Business Standard

Wednesday, January 08, 2025 | 03:47 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Finmin to meet RBI on Sep 29 to fix borrowing target for H2

Image

Press Trust of India New Delhi
Finance Ministry is scheduled to meet senior officials of RBI on Thursday to work out borrowing calender for the second half of the current fiscal.

As per the Budget estimate, government requires to raise Rs 2.45 lakh crore in the second half of 2016-17 from the dated securities floated by RBI on behalf of the government.

The meeting with the RBI officials would decide about the borrowing schedule without impacting fund requirement of the private sector, sources said.

During the first half, the gross borrowing was pegged at Rs 3.55 lakh crore.

In the Budget, the government has pegged gross market borrowing for 2016-17 at Rs 6 lakh crore and net borrowing at Rs 4.2 lakh crore.
 

The government borrows money from the market through T-bills and other instruments to fund its deficit.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 27 2016 | 8:57 PM IST

Explore News