Government looks at additional borrowing of Rs 20,000 crore

Earlier, additional borrowing of Rs 50,000 crore was on the anvil

GN Bureau | January 17, 2018


#budget   #revenue receipts   #government borrowing   #RBI   #Treasury Bills  
Government looks at additional borrowing of Rs 20,000 crore
Government looks at additional borrowing of Rs 20,000 crore

Additional borrowing of Rs 20,000 crore, and not Rs 50,000 crore, is being considered by the government to meet financial needs.

 
Upon a review of trends of revenue receipts and expenditure pattern, it has been assessed that an additional borrowing of only Rs 20,000 crore of government securities would be adequate to meet financing needs, said a PIB release.
 
“Government did not accept borrowings of Rs 15,000 crore in last three auctions. Remaining Rs 15,000 crore would be reduced from the notified borrowing programme of ensuing weeks,” it said.
 
In its press release dated December 27, 2017, the government had stated that it will raise additional market borrowing of Rs 50,000 crore through dated government securities in the current financial year, 2017-18.
 
In the union budget for FY 2017-18, the gross and net market borrowing were budgeted at Rs 5,80,000 crore and Rs 4,23,226 crore respectively with Rs 3,48,226 crore being raised (net) from dated government securities and Rs 2,002 crore from T-bills.
 
Treasury Bills are short term (up to one year) borrowing instruments of the government of India which enable investors to park their short term surplus funds while reducing their market risk.
 
Borrowings in FY 18 till date (Dec 26, 2017) have been conducted in line with the borrowing calendar for FY18. Gross and net market borrowings in FY 18 till December 26, 2017 are Rs 5,21,000 crore and Rs 3,81,281 crore, excluding buyback/switches, respectively. As against the budgeted net T-bills receipt of Rs 2002 crore in FY 18, net collections till Dec 26 2017 are Rs 86,203 crore, the authorities said in December 2017.
 
The borrowing programme of the government of India has been reviewed, with RBI, and following decisions taken: The government will trim down the T-Bills from present collections of Rs 86,203 crore to Rs 25,006 crore by March end, 2018.

Comments

 

Other News

Swachh Bharat Mission – Urban a way forward for sustainable sanitation

"Sanitation is more important than independence". --Mahatma Gandhi The world is moving towards global transformation and sanitation is an important aspect in the development of any country. The United Nations (UN) has observed in 2015-16 that 19.7%

Media taking advantage of a divided Bollywood: Shatrughan Sinha

Legendary film star and politician Shatrughan Sinha has said that friendship in Bollywood is limited to onscreen, and there is no unity and some news channels are taking advantage of this situation. “Groups within the industry or their supporters may sometimes come together for some c

‘2.40 lakh TB cases went unreported in India in 2019’

In India, only 2.40 million out of an estimated 2.64 million cases of tuberculosis were reported to the government, that is, 2,40,000 TB patients went unreported, in 2019, according to the WHO Global Tuberculosis Report 2020. The reporting of TB cases, however, has significantly increased ov

We must fight for Right to Information

Fifteen years back, the Right To Information (RTI) Act became operational on October 12, 2005. It was the auspicious day of Vijayadashmi. It appeared to herald a new evolution in Indian democracy. Citizens who had been advocating this law saw an opportunity of converting India’s defective elective de

Uddhav shoots back at governor’s sarcasm

As Maharashtra governor Bhagat Singh Koshyari went sarcastic and wrote to chief minister Uddhav Thackeray, asking him if he had turned ‘secular’ – an epithet he hated, as the places of worship remain closed amid the Covid-19 pandemic; the Shiv Sena chief replied he did not need certificat

4 info panels headless as RTI completes 15 years

When it was launched on October 12, 2005, the Right to Information Act ushered in a revolution, empowering common citizens to ask questions on a range of government activities and seek accountability. Over the years, they – especially a new breed of activists – made good use of the new law, to

India Police Virtual Summit and Awards 2020

Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter