Chandigarh, April 9 -- Amid growing criticism from the opposition over rising debt and the alleged deterioration in the state's fiscal health, the Punjab government plans to raise a total loan of Rs.9,500 crore through market borrowing during the first quarter of the 2026-27 financial year.

The state will mobilise these funds - Rs.4,000 crore in April, Rs.3,000 crore in May, and Rs.2,500 crore in June - as part of its efforts to manage its financial requirements, according to the indicative calendar released by the Reserve Bank of India.

The market borrowing plan was shared by the Punjab government with the central bank, which, acting as the states' debt manager, will hold auctions of state securities to raise these loans.

As per the m...