Budget sets net receipts at 200 bln rupees for FY2015/16

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Reuters MUMBAI
Last Updated : Feb 28 2015 | 1:57 PM IST

MUMBAI (Reuters) - The government set aside 200 billion rupees ($3.24 billion) in net receipts under the market stabilisation scheme (MSS) in the fiscal 2015/16 year, according to the budget documents.

Under the MSS, the Reserve Bank of India sells government bonds to absorb excess liquidity from the banking system.

($1 = 61.6489 rupees)

(Reporting by Neha Dasgupta; Editing by Rafael Nam)

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First Published: Feb 28 2015 | 1:46 PM IST

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