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The government will borrow Rs 3.55 lakh crore from the markets in April-September, the first half of next fiscal. The first half’s gross borrowing is 59 per cent of the total gross borrowing for FY17. Taking into account the repayments of Rs 1.07 lakh crore, the net borrowing in the first half would be Rs 2.48 lakh crore, economic affairs secretary Shaktikanta Das said.
In the FY17 Budget, the government has pegged gross market borrowing at Rs 6 lakh crore and net borrowing at Rs 4.2 lakh crore. Centre has also decided to set up a Cash Coordination Committee under chairmanship of joint secretary (Budget) along with officers from the finance ministry, RBI and CGA.
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“The committee would meet at least once a month and review the cash position of the government and will ensure coordination and joint review by finance ministry and RBI beginning April 1,” Das said. On details of borrowing programme for 2016-17, he said the government will conduct 24 auctions in the first half of next fiscal. “In first 3-4 months, the auction size will be about Rs 15,000 crore per auction and in last 2-3 months, the auction size will be Rs 14,000 crore per auction,” Das said.
As regards Treasury Bills or T-bills, the government will net borrow Rs 27,000 crore in April-June. The Ways and Means Advances limit for first half of next financial year has been set at Rs 50,000 crore as against Rs 45,000 crore this year in view of increased government spending, Das said.