NEW DELHI (Reuters) - India will borrow gross 2.47 trillion rupees ($34.08 billion) from the market between October and March through dated securities, lower than budgeted estimates, Economic Affairs Secretary Subhash Chandra Garg said on Friday.
Reuters had previously reported the borrowing for the second half of the fiscal year was likely to be lower than expected.
The government will cut its market borrowing by 700 billion rupees during October-March due to higher-than-expected earnings of 750 billion rupees through its small savings scheme.
The government had been scheduled to borrow overall 6.06 trillion rupees for the 2018/19 fiscal year that ends next March.
($1 = 72.4800 Indian rupees)
(Reporting by Manoj Kumar; Editing by Malini Menon)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
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