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28 September 2017
 |
INR (The Total Investment & Insurance Solutions)
The
government plans to borrow Rs 2.08 lakh crore from the market in the second
half of 2017-18, a top official said on Thursday, reiterating its commitment to
meet the fiscal deficit target of 3.2 percent of GDP.
To finance the fiscal deficit for the current
financial year, the Budget has pegged gross borrowing at Rs 5.8 lakh crore and
net borrowing at Rs 4.25 lakh crore.
The government borrowed Rs 3.72 lakh crore in
the first half and has pegged gross borrowings at Rs 2.08 lakh crore in the
remaining six months of the financial year-ending March 31, Economic Affairs
Secretary Subhash Chandra Garg told reporters after a meeting to decide the borrowing
calender.
The
net borrowings in the October-March period of the year has been pegged at Rs
1.92 lakh crore. The Total Investment
& Insurance Solutions
Amid talks of stimulus package to boost
sagging economic growth, Garg said deficit targets are set in the Budget and
the finance ministry will stick to them as of now. The Total Investment & Insurance Solutions
He further said that the assessment of
additional borrowing requirement, if any, would be made in December. The Total Investment & Insurance
Solutions
He added however that there seems to be no
need for additional borrowing.
Garg also informed that Central Public Sector
Enterprises (CPSEs) capital expenditure of more than Rs 3.75 lakh crore is
moving as per the plan.
He also said that public sector bodies like
NHAI would be making an additional spending of RS 25,000 crore. The Total Investment & Insurance
Solutions
Earlier in the day, Finance Minister Arun
Jaitley had reviewed capital expenditure with important CPSEs. The Total Investment & Insurance
Solutions
Answering questions on lower dividend paid to
the government by the Reserve Bank of India, Garg said discussions are on with
the central bank for additional transfers. The Total Investment & Insurance Solutions
In the wake of expenditure incurred towards
demonetisation, RBI had halved its dividend payout to the government to Rs
30,659 crore for the year ended June 2017.The Total Investment & Insurance Solutions
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