Govt to borrow Rs 1.96 lakh crore in Q2 of FY16

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Published: June 30, 2015 9:34:43 AM

Government today said it will borrow Rs 1.96 lakh crore from markets in the July-September quarter of the current financial year, 2015-16.

Government today said it will borrow Rs 1.96 lakh crore from markets in the July-September quarter of the current financial year, 2015-16.

“After reviewing the cash position of the Government, in consultation with the Reserve Bank of India (RBI), the Government of India has decided to notify the amounts for the issuance of Treasury Bills for the quarter ending September,” said an official release.

The borrowing “calendar will be subject to changes, if circumstances so warrant, including for the reasons, such as, intervening holidays”, it said.

Of the Rs 1.96 lakh crore, Rs 1.19 lakh crore would be raised through the auction of 91 days Treasury Bills.

While, Rs 39,000 crore and Rs 38,000 crore are expected to be raised by way of auctioning 182 days and 364 days Treasury Bills, as per the borrowing calender.

The government, as per the budget papers, plans to borrow Rs 6 lakh crore from the market in the current fiscal, up from Rs 5.92 lakh crore in 2014-15.

However, the net borrowings in 2015-16 would be Rs 4.56 lakh crore, after considering repayments of past loans and interest, as per budget documents.

Beating its own financial target, the government was able to contain the fiscal deficit at 3.99 per cent of GDP in 2014-15 at Rs 5.01 lakh crore.

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