Business

Government Cuts Extra Market Borrowing Needs From Rs 50,000 Crores To Rs 20,000 Crores

SHAHNAWAZ | 0
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| January 17 , 2018 , 13:58 IST

The Government of India, in December 2017 had via a press release stated that it would raise additional market borrowing of Rs 50,000 crores through dated Government securities in the current financial year, 2017-18.

Upon a review of trends of revenue receipts and expenditure pattern, it has been assessed that additional borrowing of only Rs 20000 crores of Government securities would be adequate to meet financing needs. Government did not accept borrowings of Rs15, 000 crores in last three auctions. As per a press release from the Ministry of Finance, the remaining Rs15, 000 crores would be reduced from the notified borrowing programme of ensuing weeks.