RBI, Finance Ministry review govt's borrowing programme before Budget

New Delhi [India], Dec 27 (ANI): The Ministry of Finance on Wednesday released a notification for reviewing the borrowing programme of the government.

In the Union Budget for FY 2017-18, the gross and net market borrowing were budgeted at Rs. 5,80,000 crore and Rs. 4,23,226 crore respectively with Rs. 3,48,226 crore being raised (net) from dated government securities and Rs. 2,002 crore from T-bills.

As per the notification, the borrowings in FY 18 till date (Dec. 26, 2017) have been conducted in line with the borrowing calendar for FY18.

It added that the government will trim down the T-Bills from present collections of Rs. 86,203 crore to Rs. 25,006 crore by March end, 2018.

The government will also raise additional market borrowings of Rs. 50,000 crore only in fiscal FY18 through dated government securities.

Moreover, between now and March 2018, the government will not be raising any net additional borrowings. The T-Bills will be run down by Rs. 61,203 crore and additional G-Sec borrowing will be Rs. 50,000 crore.

The revised G-sec and T-Bill calendar for Q4 FY18 are being notified, the Ministry revealed.

The revised G-Sec borrowing would be Rs. 15,000 crore each last five weekly auctions of FY 18 ending on 9th February, 2018.

The revised T-Bill borrowing will be Rs. 14,000 crore each in first 13 weeks of 2018 ending on 28th March.

The gross and net market borrowings in FY 18 till December 26, 2017 are Rs. 5,21,000 crore and Rs. 3,81,281 crore, excluding buyback/switches, respectively.

As against the budgeted net T-bills receipt of Rs. 2002 crore in FY 18, net collections till Dec 26 2017 are Rs. 86,203 crore, the notification further revealed. (ANI)

This story has not been edited. It has been published as provided by ANI