Centre cuts borrowings plan

 The government will cut down its borrowings by Rs 34,888 crore in the second half of this fiscal as per the issuance calendar for the second half of fiscal 2003-04.

 The calendar, issued by the Reserve Bank of India (RBI) in consultation with the government today, said the Centre will raise Rs 25,000 crore through dated securities in this period.

 With the government raising less, the prices of government securities likely to rise and yields may to come off at by at least five basis points in Wednesday