Additional borrowing of Rs 20,000 cr Govt Sec adequate to meet financing needs
New Delhi, Jan 17 (IBNS): The Union Ministry of Finance said on Wednesday that in December, the Central government had announced that it will raise additional market borrowing of Rs 50,000 crore through dated Government securities in the current financial year, 2017-18.
This announcement was made through a Press Release dated December 27, 2017.
On Wednesday, the ministry said that upon a review of trends of revenue receipts and expenditure pattern, it has been assessed that additional borrowing of only Rs 20,000 crore of Government securities will be adequate to meet financing needs.
It also said that the Union government did not accept borrowings of Rs 15,000 crore in the last three auctions. Remaining Rs 15,000 crore will be reduced from the notified borrowing programme of ensuing weeks.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
