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| Finmin, RBI officials meet on July 17 on govt borrowing |
| Press Trust of India / New Delhi Jul 07, 2009, 14:21 IST |
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The Finance Ministry and RBI top brass is scheduled to meet on July 17 to discuss ways and means of facilitating the government's large borrowing programme.
The government plans to borrow nearly Rs 4,00,000 crore from the markets during 2009-10, a rise of about 50 per cent over what it borrowed a year ago, to fund the widening fiscal deficit, necessitated after stimulus doses for the economy.
The meeting would take place on July 17 to decide on the borrowing programme, Finance Secretary Ashok Chawla told reporters here.
The net market borrowing of the government through dated securities in 2009-10 is estimated at Rs 3,97,957.46 crore, Finance Minister Pranab Mukherjee had said yesterday while presenting the Budget 2009-10.
Against the Budget estimate of Rs 1,00,571 crore for 2008-09, the government borrowed Rs 2,61,972 crore to fund the increasing expenditure required to insulate the domestic economy from the impact of the global financial crisis.
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