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Recap bonds unlikely to reflect in fiscal deficit, says official source

The government announced the recapitalisation plan earlier this week

Reuters  |  New Delhi 

Bank recapitalisation stares at Sebi hurdles

The Indian government's Rs 2.1 lakh crore plan to infuse capital into its banks, bulk of which will be funded via recapitalisation bonds, is unlikely to reflect in the fiscal deficit, a finance ministry official said on Thursday.

The government announced the earlier this week.

As part of the plan, Rs 1.35 lakh crore worth of bonds will be issued.

The government has a target to keep the at 3.2 percent of gross domestic product in the year to March 2018, and at 3 percent in the next financial year.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, October 26 2017. 16:31 IST