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Govt sticks to FY18 borrowing target, leaves window ajar for extra bond sales

LiveMint logoLiveMint 28-09-2017 Manoj Kumar

New Delhi: The government on Thursday stuck to its budgeted market borrowing target for the fiscal year ending in March 2018, but didn’t rule out the possibility of selling additional bonds to fund any new spending.

After a meeting with the Reserve Bank of India (RBI) officials, economic affairs secretary Subhash Chandra Garg said that New Delhi would borrow Rs2.08 trillion ($31.77 billion) between October and March.

In February, the government had budgeted gross market borrowings of Rs5.8 trillion ($88.57 billion) for the 2017/18 fiscal year. Of this, Rs3.72 trillion was raised in the first half of the year.

Garg, however, said that funding any new spending would require extra market borrowing. Reuters

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