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Business News/ Politics / Policy/  Govt to borrow Rs3.60 trillion in first half of FY16
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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

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. Photo: Pradeep Gaur/MintPremium
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. Photo: Pradeep Gaur/Mint

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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Published: 23 Mar 2015, 06:09 PM IST
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