New Delhi, July 07: The public sector undertakings, a
principal vehicle for the government`s Plan investment, will
hit the domestic and overseas markets to mop up about Rs
63,000 crore in the current fiscal.
This resource mobilisation could be by way of bonds,
debentures and external commercial borrowings and the PSUs are
targetting another about Rs 46,600 crore through other means
that could include asset sales.
Besides, the companies would generate close to Rs one
lakh crore through internal resources -- higher by about Rs
10,000 crore from the previous year.
The raising of funds from the market by PSUs, aimed at
part financing their total targetted investment of about Rs
2,37,000 crore this fiscal, is different from the government`s
total borrowing of over Rs 4,00,000 crore.
Such a high level of borrowing from the market by the
government and the PSUs could adversely impact the easing of
interest rates as also the liquidity availability for private
sector borrowers.
The power PSUs, mainly NHPC, NTPC and PowerGrid, alone
are aiming to raise over Rs 32,000 crore through bonds,
debentures and ECBs and other means, while about Rs 11,800
crore would be raised through internal resources.
On the other hand, NHAI would raise Rs 4,000 crore
through bonds and debentures and another Rs 1,000 crore
through other routes, while Indian Railways is aiming to mop
up Rs 9,170 crore through bonds and debentures.
Other major PSUs tapping the bonds and debentures route
include Bharat Sanchar Nigam Ltd (Rs 6,909 crore), National
Airports Authority of India (2,004 crore) Indian Oil Corp (Rs
1,500 crore) and Housing and Urban Development Corp (Rs 2,200
crore).
Through the ECB and supplier credit route, National
Aviation Company of India Ltd is targetting to raise Rs 7,530
crore, while others include NTPC (Rs 3,418 crore), PowerGrid
(Rs 2,202 crore), Shipping Corp of India (about Rs 1,400
crore), Neyveli Lignite Corp (Rs 500 crore) and HPCL (Rs 400
crore).
Bureau Report
