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India to decide Oct-March borrowing at Sept. 28 meeting - finmin source
September 26, 2017 / 7:07 AM / in a month

India to decide Oct-March borrowing at Sept. 28 meeting - finmin source

NEW DELHI (Reuters) - India will decide its October-March government borrowing amount on Thursday, a finance ministry official said on Tuesday.

An India Rupee note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration/Files

The government has said it will borrow 3.72 trillion rupees ($56.92 billion) via bonds during April-September, comprising 64 percent of its full-year borrowing.

However, market participants expect the government to borrow more than the estimated amount in the second half of the fiscal year ending March, given its plans for fiscal stimulus to boost the economy which will entail higher-than-budgeted spending.

($1 = 65.3500 Indian rupees)

Reporting by Manoj Kumar; Editing by Subhranshu Sahu

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