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Published on 26/03/2018 5:15:06 PM | Source: Reuters

India plans to borrow 2.88 trillion rupees in first half of 2018/19

Posted in Economy News| #Economy #Government

NEW DELHI  - India plans to borrow 2.88 trillion rupees ($44.40 billion) in the first half of the 2018/19 financial year that begins in April, the government said on Monday.

In the federal budget unveiled in February, the government said it envisages a gross market borrowing of 6.06 trillion rupees in 2018/19 and a net market borrowing of 4.62 trillion rupees.

The government and the central bank are also considering a plan to raise the foreign investment limit in government bonds, S.C.Garg, economic affairs secretary, told reporters.

($1 = 64.8600 Indian rupees)

(Reporting by Manoj Kumar; Writing by Aditya Kalra; Editing by Sanjeev Miglani)