Economic Affairs Secretary Shaktikanta Das said the Finance Ministry and the RBI will hold a meeting between March 15 and 20.
New Delhi: The Finance Ministry and the Reserve Bank of India will hold a meeting later this month to take a call on the government's borrowing calendar for the next fiscal year in a manner that would be non-disruptive.
The government plans a net borrowing of Rs 4.2 lakh crore during 2016-17 to meet its expenses.
"We will have a meeting in the middle of March. The (borrowing) calendar would be designed in such a manner that it is non-disruptive," Economic Affairs Secretary Shaktikanta Das told PTI in an interview.
It may happen between March 15 and March 20, he said, adding that the exact date is yet to be decided.
When asked if it would be front-loaded to avoid crowding out private sector investment, he said that it will be decided by the committee. "The RBI makes analysis... our middle office makes an analysis. At that time we will take a view."
As per the Budget presented by Finance Minister Arun Jaitley earlier this week, the government intends to borrow Rs 4.2 lakh crore from the market in 2016-17, down from Rs 4.4 lakh crore in the current fiscal year.
The budgeted target for borrowing in current fiscal year was Rs 4.5 lakh crore, but the government will raise only Rs 4.4 lakh crore from markets.
However, gross borrowing has been pegged at Rs 6 lakh crore up for 2016-17 up from Rs 5.8 lakh crore in the ongoing fiscal year.
Gross borrowing includes repayments of past loans and interests.
Repayment for past loans for the next fiscal year has been pegged at 1.8 lakh crore.
Fiscal deficit is the difference between Revenue receipts plus Non-debt Capital Receipts and the total expenditure. This indicates the total borrowing requirements of the government from all sources.
The government plans a net borrowing of Rs 4.2 lakh crore during 2016-17 to meet its expenses.
"We will have a meeting in the middle of March. The (borrowing) calendar would be designed in such a manner that it is non-disruptive," Economic Affairs Secretary Shaktikanta Das told PTI in an interview.
It may happen between March 15 and March 20, he said, adding that the exact date is yet to be decided.
When asked if it would be front-loaded to avoid crowding out private sector investment, he said that it will be decided by the committee. "The RBI makes analysis... our middle office makes an analysis. At that time we will take a view."
As per the Budget presented by Finance Minister Arun Jaitley earlier this week, the government intends to borrow Rs 4.2 lakh crore from the market in 2016-17, down from Rs 4.4 lakh crore in the current fiscal year.
The budgeted target for borrowing in current fiscal year was Rs 4.5 lakh crore, but the government will raise only Rs 4.4 lakh crore from markets.
However, gross borrowing has been pegged at Rs 6 lakh crore up for 2016-17 up from Rs 5.8 lakh crore in the ongoing fiscal year.
Gross borrowing includes repayments of past loans and interests.
Repayment for past loans for the next fiscal year has been pegged at 1.8 lakh crore.
Fiscal deficit is the difference between Revenue receipts plus Non-debt Capital Receipts and the total expenditure. This indicates the total borrowing requirements of the government from all sources.
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