INSUBCONTINENT EXCLUSIVE:
The finance ministry and the Reserve bank of India (RBI) are scheduled to hold meeting on Friday to decide about the borrowing calender for
the second half of the current fiscal.
The borrowing calender for the October-March period will be decided keeping in mind the fiscal
deficit target of 3.3 per cent for 2018-19, sources said.
The government had budgeted Rs 6,05,539 crore for 2018-19 Gross G-Sec borrowing
It also intends to use larger inflows from Small Savings Schemes to fund its fiscal deficit during the year.
It will borrow Rs 1 lakh crore
from NSSF (National Social Security Fund) as against budgeted amount of Rs 75,000 crore.
For the first half of the current fiscal, the
government decided to borrow Rs 2.88 lakh crore as compared to Rs 3.72 lakh crore in the same period of FY18.
According to the announced
plan, the government will complete 47.56 per cent of its the budgeted gross borrowing for the year in the first six months.
The government
usually tries to complete at least 60 per cent of its borrowing requirements in the first six months.
The government borrows funds from
money market to bridge the fiscal deficit
The deficit has been pegged at 3.3 per cent of GDP in 2018-19, lower than 3.5 per cent in current fiscal.
