Govt to borrow Rs3.60 trillion in first half of FY16
The borrowing would help fund a fiscal deficit of 3.9% of gross domestic product for the year
New Delhi: India’s government will borrow ₹ 3.60 trillion in the first-half of the fiscal year that begins in April, finance secretary Rajeev Mehrishi said on Monday.
The amount borrowed in April-September would be 66.7% of the full 2015-16 year target of ₹ 6 trillion announced by the government in its annual budget unveiled late last month.
The borrowing would help fund a fiscal deficit of 3.9% of gross domestic product for the year.
Bond traders were expecting New Delhi to front-load its market borrowings by raising as much as 67% of the full-year target between April and September.
Television channels had reported a borrowing of ₹ 3.65 trillion for the first half of the year just before the official announcement was due.
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