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ICRA Research Report
Amid the second wave of Covid-19, a fewer six states have availed the special drawing facility in April-May FY22 as compared to 11 states/Union Territories in April-May FY21.
However, the number of states/UT availing ways and means advances and overdraft has risen to eight and seven, respectively, during April-May FY22 from six and two, respectively, during April-May FY21.
At the same time, the aggregate state development loan issuances by the state governments/UT during April-May 2022 declined by nearly 44% in year-on-year terms.
Taken together, these trends suggest that liquidity tightness was limited to a few states during the second wave of Covid-19.
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