BackGovt to borrow Rs2.2 trillion between Oct-Mar
Govt to borrow Rs2.2 trillion between Oct-Mar
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New Delhi: The government will borrow Rs2.2 trillion ($44.9 billion) in the second half of the current fiscal year that begins on 1 October higher than the budgeted Rs1.67 trillion, R. Gopalan, economic affairs secretary, finance ministry, said on Thursday.
The government had in the union budget pencilled in gross market borrowing of Rs4.17 trillion for the 2011-12 fiscal year, to help bridge its fiscal deficit that is forecast to be at 4.6% of the GDP (gross domestic product).
It has already completed borrowing Rs2.5 trillion between April and September. The full-year borrowing would now stand at Rs4.7 trillion.
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