 "Govt's borrowings increasingly being used to pay interest on past loans")
The centre will maintain its borrowing plan for the remainder of this fiscal year, an official said.
Prime Minister Narendra Modi’s administration will likely sell about Rs 2.68 trillion ($37.8 billion) of bonds in the six months beginning Oct 1, the official told reporters in New Delhi, asking not to be identified citing rules. India had a target to borrow Rs 4.42 trillion in the fiscal first-half started April.
A decision on the nation’s maiden foreign currency sovereign bond sale, announced first in July, has not been made, the official said.
The move to maintain the borrowing plan will be seen as a
