New Delhi, June 17: The short-term overdraft facility with the central bank was within limits, at Rs 2,000 crore, as on June 14 and the government will stick to its scheduled borrowing in July, a finance ministry official said on Tuesday. "We are around Rs 2,000 crore on Saturday. Our position is comfortable after the states borrowed on June 12 and paid the government for the debt swap," the official, who did not identified said.
All states had borrowed Rs 7,000 crore from the market on June 12 in the first tranche of borrowings in the current financial year to March 2004 under the debt swap plan.
The government is scheduled to borrow Rs 9,000 crore from the market between July 1 and July 7. It has Rs 10,000 crore limit with the central Reserve Bank of India in the first half of 2003/04 (April-March). Bureau Report