`Govt borrowings will not hike rates'

The government today said its market borrowing programme next fiscal is unlikely to put pressure on interest rates.

Rakesh Mohan, secretary (economic affairs) of the finance ministry, said: "There is enough liquidity in the system. One doesn't see any difficulty or pressue on interest rates."

"This fiscal, there has been Rs 80,000-1,00,000 crore in the system. Next year, the borrowing programme may be less than what has been budgeted," he added.