Govt to borrow Rs2.4 lakh cr in H2https://indianexpress.com/article/business/business-others/govt-to-borrow-rs2-4-lakh-cr-in-h2/

Govt to borrow Rs2.4 lakh cr in H2

The annual borrowing for the Centre is now estimated at Rs 5.92 lakh crore, partially lower than the estimate of Rs 5.97 lakh crore.

With expectations of good revenue and some savings from expenditure, the Centre has decided to prune its borrowing target of Rs 2.4 lakh crore in H2FY15 as against the Budget estimate of Rs 2.48 lakh crore.

“The average borrowing per week will be Rs 14,000 crore to Rs 15,000 crore in the second half of the financial year,” said finance secretary Arvind Mayaram after a meeting with officials from the Reserve Bank of India to finalise the borrowing programme for October 2014 to March 2015.

Expressing satisfaction over government’s fiscal position he further said, “We are satisfied that we will not have to borrow more in 2014-15.”

The annual borrowing for the Centre is now estimated at Rs 5.92 lakh crore, partially lower than the estimate of Rs 5.97 lakh crore.