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Government, RBI To Finalise First Half Borrowing Calendar Today
The government and the Reserve Bank are scheduled to finalise first half borrowing calendar today. The government has decided to borrow Rs. 3.5 lakh crore from the market in 2017-18, around Rs. 75,000 crore lower than the current fiscal.
The government and the Reserve Bank are scheduled to finalise first half borrowing calendar today. The government has decided to borrow Rs. 3.5 lakh crore from the market in 2017-18, around Rs. 75,000 crore lower than the current fiscal.
However, gross borrowing has been pegged at Rs. 5.8 lakh crore for 2017-18, marginally higher from Budget estimate of Rs. 6 lakh crore in the ongoing year.
Gross borrowing includes repayments of past loans and interests. Repayment for past loans for the next fiscal has been pegged at Rs. 1.5 lakh crore.
Under the Market Stabilisation Scheme or MSS, the government will float bonds worth Rs. 1 lakh crore in the next fiscal as against Rs. 1.01 lakh crore in the current fiscal. MSS does not add to the fiscal burden but it is used to manage liquidity in the market.
Against the budget estimate of Rs. 20,000 crore under MSS for the current financial year, the government had to raise the limit to Rs. 1.01 lakh crore in order to mop up additional liquidity infused in the market due to demonetisation.
