Government to raise Rs.3.55 lakh crore via bonds April-September

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New Delhi, March 18 (IANS) The government will make gross borrowings Rs.3.55 lakh crore, or up to 59 percent of its borrowing plan for the next full fiscal, through sale of bonds from April to September, a senior official said on Friday.

Announcing the central government’s borrowing plans for the first half of next fiscal, Economic Affairs Secretary Shaktikanta Das told reporters here that it will borrow, on an average, Rs.14,000-15,000 crore rupees per week via auctions.

Gross borrowing, that includes repayments of past loans and interests, have been pegged at Rs.6 lakh crore in the budget estimates for 2016-17, up from Rs.5.8 lakh crore in the current fiscal.

On a net basis, the government will borrow Rs.2.48 lakh crore in the April-September period.

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Presenting Budget 2016-17 in parliament last month, Finance Minister Arun Jaitley had announced the government will borrow Rs.4.2 lakh crore from the market in 2016-17, down from Rs.4.4 lakh crore in the current fiscal.

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