Government to borrow $37.7 bln in Oct-March - source

Image
Reuters MUMBAI
Last Updated : Sep 28 2015 | 6:22 PM IST

MUMBAI (Reuters) - The government will borrow a gross 2.49 trillion rupees ($37.70 billion) between October and March, or the second half of the 2015/16 fiscal year, a source familiar with the details told Reuters on Monday.

New Delhi will borrow 2.34 trillion rupees via bonds and 150 billion rupees via gold bonds, the source added.

India this year unveiled a new category of bonds that will pay interest rates linked to the bullion price.

The gross borrowing is part of the 6 trillion rupees in debt sales planned for the full 2015/16 year announced by Finance Minister Arun Jaitley when presenting the federal budget in February.

($1 = 66.0400 rupees)

(Reporting by Rajesh Kumar Singh; Editing by Rafael Nam)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Sep 28 2015 | 6:11 PM IST

Next Story