Government Cuts Extra Market Borrowing Needs By 60% To Rs. 20,000 Crore

Government Cuts Extra Market Borrowing Needs By 60% To Rs 20,000 Crore

The government had earlier said it is likely to borrow an additional Rs. 50,000 crore in FY18

The government has cut its additional market borrowing requirement by more than half for the fiscal year ending in March to Rs. 20,000 crore, Economics Affairs Secretary SC Garg said on Twitter.

The news sent benchmark 10-year bond yields down over 15 basis points.

Last month, the finance ministry had said that the government is likely to borrow an additional Rs. 50,000 crore in fiscal year 2017-18.

[“Source-ndtv”]