Finance Ministry to meet RBI on Sep 29 to fix borrowing target for H2

By: | Published: September 27, 2016 9:25 PM

Finance Ministry is scheduled to meet senior officials of RBI on Thursday to work out borrowing calender for the second half of the current fiscal.

FM Arun Jaitley, Arun Jaitley, Jan Dhan accounts, Pradhan Mantri Jan Dhan YojanaFinance Ministry is scheduled to meet senior officials of RBI on Thursday to work out borrowing calender for the second half of the current fiscal. (PTI Photo)

Finance Ministry is scheduled to meet senior officials of RBI on Thursday to work out borrowing calender for the second half of the current fiscal. As per the Budget estimate, government requires to raise Rs 2.45 lakh crore in the second half of 2016-17 from the dated securities floated by RBI on behalf of the government.

The meeting with the RBI officials would decide about the borrowing schedule without impacting fund requirement of the private sector, sources said.

During the first half, the gross borrowing was pegged at Rs 3.55 lakh crore.

In the Budget, the government has pegged gross market borrowing for 2016-17 at Rs 6 lakh crore and net borrowing at Rs 4.2 lakh crore.

The government borrows money from the market through T-bills and other instruments to fund its deficit.

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