BackGovt to borrow Rs2.4 trillion from market in second half 2014-15: RBI
The govt would be borrowing Rs13,000-15,000 crore every week between 6 Oct and 13 Feb
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Mumbai: The Reserve Bank of India (RBI) on Friday said the government will borrow Rs2.4 trillion from the market in the second half of the fiscal 2014-15. This is slightly lower, by Rs8,000 crore, than what the market estimate was.
The government wanted to borrow Rs6 trillion from the market for the entire fiscal, of which it had borrowed Rs3.52 trillion in the first half that would end in September. In the first half, the government had cancelled Rs16,000 crore of bond auction due to comfortable cash position, which the market was expecting to be added in the second half borrowing, taking the amount to Rs2.48 trillion between September and March. However, the government added back only half of that cancelled borrowing, borrowing calendar published by the central bank on its website showed.
According to the calendar, government would be borrowing Rs13-15,000 crore every week between 6 October and 13 February. Maturity tenure range between five years to 20 years and above, the calendar showed.
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