Thursday, December 26, 2024

Govt sticks to FY20 borrowing plan, to raise Rs 2.68L cr in H2

Monday, September 30, 2019, 12:42
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The government has stuck to the borrowing calendar as set in the Budget, as it plans to raise Rs 2.68 lakh crore in the second half of financial year 2020.Economic Affairs Secretary Atanu Chakraborty in a media briefing said the government has so far maintained the fiscal glide path to meet fiscal deficit target of 3.3 per cent.Out of the gross borrowing for Rs 7.10 lakh crore budgeted for 2019-20 fiscal, as much as 62.5 per cent has already been borrowed during April-September, he told reporters.During the first half the government has raised Rs 4.42 lakh crore, about 62 per cent of the total borrowing.”All borrowing in FY20 will be in rupee denominated bonds,” he said.The Centre has no plans to sell bonds in overseas markets as of now, a plan which was mooted by Finance Minister Nirmala Sitharaman in Budget on July 5, 2019.The government will hold 15 Gilt auctions worth Rs 16,000 crore each during October to March.There were fears in the market that the Centre might raise borrowing in the second half of the year to fund its various stimulus measures announced in the past few weeks.

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