Wednesday, 29 March 2017

Government to borrow Rs 3.72 lakh cr in H1 of next fiscal

The Indian Government has said that it will borrow from markets about Rs 3.72 lakh crore in the first half of next fiscal beginning April which is 64 per cent of the borrowing target for full financial year. The borrowing in the April-September period will be a little higher compared to other years as the finance ministry and the RBI foresee other ministries to start spending from the beginning of the fiscal as well as redemption pressure. Commenting on the issue, Economic Affairs Secretary Shaktikanta Das told the media, "Normally every year we borrow 60-62 per cent in the first half of the year, this year it is marginally higher 64 per cent."

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