INSUBCONTINENT EXCLUSIVE:
Trying to ease concerns over liquidity squeeze, the government on Friday announced a massive Rs 70,000 crore cut in its planned market
borrowing programme, and said it would try and meet its needs through small savings mopup.
Economic Affair Secretary Subhash Chandra Garg
fiscal deficit of 3.3 per cent of GDP.
He said the government will introduce inflation index bonds from the second half of the financial
He said the T-bill programme will remain at Rs 17,000 crore and there will be no change in the T-bill outstanding amount.
Garg said the
government will borrow Rs 12,000 crore through gilts every week from November
The government expects total mop-up through small saving schemes to exceed budget estimates, he said.
The government borrowing in the second
half of the financial year is estimated to be around Rs 2.47 lakh crore
The borrowing programme of this financial year will end by March 8, 2019.
Garg said the budgeted expenditure was on track despite higher MSP
announcement and the launch of the Ayushman scheme
