Centre to borrow R1.56 lakh crore in Q2

The government will borrow Rs 1.56 lakh crore in the July-September quarter to meet its financing requirements

The government will borrow Rs 1.56 lakh crore in the July-September quarter to meet its financing requirements,which is in line with the schedule spelled out by the finance ministry at the beginning of the year.

As per the borrowing calendar issued by the finance ministry in consultation with the Reserve Bank of India,the government will auction Treasury Bills worth Rs 1.56 lakh crore in the September quarter.

The gross market borrowing through issue of dated securities in 2013-14 has been pegged at Rs 5.79 lakh crore.

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Of this,58 per cent would be completed in the first half. The front-loading of borrowing is aimed at making available capital to the private sector in the last six months of 2013-14,sources said.

The government has to borrow funds from the market to finance the fiscal deficit,which is estimated to be 4.8 per cent in current fiscal. In 2012-13,the fiscal deficit was 4.9 per cent. The net borrowing for 2013-14 fiscal year will be at Rs 4.84 lakh crore.

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Ministry of Finance

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