Govt. to borrow Rs 50,000 cr for current fiscal year

Govt. to borrow Rs 50,000 cr for current fiscal year
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New Delhi : The Government on Wednesday decided to make additional market borrowing of only 50,000 crore in the remaining period of the current fiscal year to meet expenditure, confirmed SC Garg, Secretary of Department of Economic Affairs (DEA).

“Government final borrowing program issued today. Additional market borrowing of only 50000 crore would be taken during current year. Government will run down existing excess borrowing of I-T bills by 61000 cr. No net additional borrowing effectively”, said SC Garg to ANI.

An issuance calendar from the Finance Ministry reads, “The government will, thus, between now and March 2018, not be raising any net additional borrowing (T-Bills will be run down by Rs 61,203 crore and additional G-Sec borrowing will be Rs 50,000 crore).”

“The revised G-Sec borrowing would be Rs 15,000 crore each in the last five weekly auctions of fiscal 2018 ending on 9th February, 2018. The revised T-Bill borrowing will be Rs 14,000 crore each in first 13 weeks of 2018 ending on 28th March,” it added.

The government’s gross and net market borrowings in the current fiscal till December 26 stood at Rs 5,21,000 crore and Rs 3,81,281 crore, respectively, the statement further read. (ANI)