Chandigarh, Oct. 6 -- Amid rising fiscal challenges, the Punjab government plans to raise a loan of Rs.5,093 crore during the October-December period (third quarter) of the current financial year.

The funds will be raised from the open market through the sale of state securities. According to the state government's borrowing calendar, Rs.1,500 crore will be borrowed in two tranches in October, followed by Rs.2,500 crore in November and Rs.2,093 crore in December. The government securities, including fresh bonds with a tenure of 12 years or more and re-issuance of the existing state development loans, will be auctioned by the central bank through its core banking system, E-Kuber.

With these fresh loans, the state government's borrowings ...