Govt to borrow Rs 7.24 trillion from market in six months: Finance Ministry

The net borrowings during the next fiscal year will be about Rs 9.37 trillion

Topics

Finance Ministry | government borrowing | govt bonds


Reuters  | 
NEW DELHI 

borrowing

The government had borrowed a record 13.71 trillion rupees in the current fiscal year

NEW DELHI (Reuters) – India’s federal government will borrow 7.24 trillion rupees ($98.95 billion)from the market in the first six months of the next financial year that starts on April 1, a finance ministry official said on Wednesday.

The borrowings in the first half of the next fiscal year will be about 60% of the 12.05 trillion rupees’ borrowing target for the whole fiscal year, Tarun Bajaj, economic affairs secretary at the Ministry of Finance said at a virtual briefing.

The net borrowings during the next fiscal year will be about 9.37 trillion rupees, the official said.

He said the government had borrowed a record 13.71 trillion rupees in the current fiscal year.

($1 = 73.1710 Indian rupees)

(Reporting by Manoj Kumar; Editing by Gareth Jones)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, March 31 2021. 19:41 IST