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| Govt to raise Rs 12,000 cr from bond sale |
| Press Trust of India / New Delhi Jul 17, 2009, 21:35 IST |
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A day after revised schedule for the borrowing for the first half of the current fiscal was announced, the government today said it would raise Rs 12,000 crore from sale of two government papers.
The 2015 government bonds worth Rs 6,000 crore would carry a coupon rate of 6.49 per cent while the 2019 bonds of similar amount would carry a coupon rate of 6.90 per cent, a government release said.
The auction will be held on July 24 and up to 5 per cent of the notified amount of sale of stock would be allotted to eligible individuals and institutions on non competitive basis, it said.
Yesterday, the government said it will borrow from markets Rs 2.99 lakh crore, which is 24 per cent more than its earlier estimate for the first half of the current fiscal.
"We have already done and announced Rs 1,89,000 crore. So, the balance is Rs 1,10,000 crore we are going to be doing up to September 30 in 10 tranches," RBI Deputy Governor Shyamala Gopinath had said.
The government had earlier estimated borrowing to be at Rs 2.41 lakh crore for the first half of the current fiscal.
Allaying fears of disruption in the market due to the government's borrowing plan, she had said, "We would be managing this programme in a non-disruptive manner."
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