Chidambaram rules out additional borrowing in current fiscal
Quotes

Chidambaram rules out additional borrowing in current fiscal

Last Updated: Friday, December 07, 2012, 14:02
 
 Comment 0
 
Chidambaram rules out additional borrowing in current fiscal
New Delhi: Ruling out any additional borrowing in the remaining part of the current fiscal, Finance Minister P Chidambaram on Friday said the government will be able to accommodate the enhanced outgo within the present limit.

"Rs 28,500 crore of petroleum subsidy, about Rs 2,000 crore for infusion of equity in Air India and Rs 300 odd crore for some small items. So this amount we think we can accommodate within the present borrowing limit," he told reporters outside Parliament.

"We don't think at this moment we need to borrow anything more than what is indicated," he added.

The government had budgeted market borrowing at Rs 5.7 lakh crore during the current fiscal to bridge the expenditure- evenue gap.

The Finance Minister had earlier said that the fiscal deficit may go up to 5.3 percent of the GDP as against the Budget estimate of 5.1 percent for the current financial year.

In the first half (April-September) of 2012-13, the fiscal deficit rose to Rs 3.37 lakh crore which was 65.6 percent of the budget estimate.

The government has already borrowed Rs 3.7 lakh crore in the first half ending September 30, which is 65 percent of the total planned borrowing.

The front-loading of borrowing was done as part of its strategy to make available capital to private sector in the last six months of 2012-13.

The government has proposed to raise Rs 2 lakh crore in the second half of the fiscal.

PTI



First Published: Friday, December 07, 2012, 14:02


Comments


comments powered by Disqus
India`s top ten billionaires
India`s top ten billionaires
Pradhan Mantri Jan Dhan Yojana - In Pics
Pradhan Mantri Jan Dhan Yojana - In Pics
Apple Smartwatch unveiled
Apple Smartwatch unveiled
Apple iPhone 6, iPhone 6 plus
Apple iPhone 6, iPhone 6 plus
Samsung Galaxy Tab 4 Nook
Samsung Galaxy Tab 4 Nook

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved