Going by the government borrowings in April-May this year, it looks near certain that the budgeted borrowings for the current fiscal will be surpassed.
Net borrowings in the first two months of 2001-02 have already crossed the half-way mark. At Rs 41,250 crore, the net borrowings during April-May surpassed 53 per cent of the budgeted estimate of Rs 77,353 crore for the entire fiscal.
In the last fiscal, net borrowings during the first two months was much lower at Rs 24,706 crore or 33 per cent of the budgeted estimate of Rs 73,862 crore.
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Sources said that out of the Rs 45,750 crore gross borrowings in April-May this year, the government privately placed Rs 17,000 crore with the Reserve Bank of India.
This RBI credit to the government, netted against the apex bank
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