Govt raises borrowing to Rs 2.99 lakh cr for H1FY10
Press Trust of India / New Delhi Jul 16, 2009, 13:20 IST
The government today said it has stepped up its market borrowing to Rs 2.99 lakh crore for the first half of the current fiscal against Rs 2.41 lakh crore announced earlier.
"So far the government has borrowed and programmed Rs 1.89 lakh crore... Balance Rs 1.10 lakh crore will be raised till September 30, 2009 in ten tranches," RBI Deputy Governor Shyamala Gopinath told reporters after meeting Finance Secretary and other officials today.
As regard open market operations, Gopinath said, of the Rs 80,000 crore announced in calender after interim Budget, Rs 43,000 crore has already been raised.
"This would continue through the first half (of the current fiscal)...We would continue this program as envisaged but of course it would depend on the evolving liquidity condition...We will be managing the program in a non-disruptive manner," Gopinath said.
The RBI will release details of the OMO after market hours today. Open market operations (OMO) is the system through which the central bank sucks out or injects liquidity into the system against government papers.
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