December 27, 2017 / 11:56 AM / a month ago

India likely to borrow extra 500 bln rupees in 2017/18 - finance ministry

NEW DELHI, Dec 27 (Reuters) - India’s government is likely to borrow additional 500 billion rupees ($7.79 billion) in 2017/18 fiscal year that ends in March, the finance ministry said on Wednesday, which could widen the country’s fiscal deficit.

Finance Minister Arun Jaitley had earlier budgeted to raise 5.8 trillion rupees ($90.45 billion) in 2017/18 via bond sales to bridge the fiscal deficit of 3.2 percent of GDP. ($1 = 64.1500 Indian rupees) (Reporting by Manoj Kumar; Editing by Malini Menon)

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