SME Times News Bureau | 30 Mar, 2010
The government will borrow USD 64 billion (Rs.2.87 trillion) in the first half of the 2010-11 financial year, which will be 63 percent of the full-year borrowing, Finance Secretary Ashok Chawla said on Monday.
"The government plans to borrow 4.57 trillion rupees (USD 101 billion) in 2010/11 which is 1.3 percent over the previous year," Chawla said after meeting the Reserve Bank of India (RBI) officials.
RBI Deputy Governor Shyamala Gopinath said the central bank would look at making the government's borrowing more even.
"On an average, Rs.11,000-15,000 crore of issuance would come to the market every week," she said after the meeting held to finalise the schedule for the first-half borrowing.
The government's borrowing during next fiscal is to rise an annual 1.3 percent to Rs.4.57 trillion to fund a fiscal deficit which is projected at 5.5 percent of the gross domestic product (GDP).
