FY12 govt borrowing to remain same : finance ministry

FY12 govt borrowing to remain same : finance ministry

Mumbai: The central government is unlikely to change its market borrowing programme for the current financial year, a senior finance ministry official told Reuters on Wednesday after a meeting with market participants and central bank officials.

“No, (it) remains the same," the official replied, when asked if there had been any change in the borrowing plan.

Two other market participants, who attended the meeting, confirmed this.

“The finance ministry told us that the fiscal deficit target (for 2011-12) will be met," said one of the market participants.

India’s 10-year benchmark bond yield fell 1 basis point to 8.21% after the news.

The meeting was held to gather feedback from market players on the government borrowing programme and related issues, participants said.

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