New Delhi, Sept 18: India is expected to borrow Rs.32000 crores ($6.61 billion) between October and March through gilt issues, a sum below the figure estimated in the 2002-03 budget, a finance ministry official said on Wednesday.
"This will be Rs.800 crore to Rs.1000 crore less than the (budget) estimate," the senior ministry official, who did not want to be named, said.

"I am borrowing less because of increased tax and non-tax revenues and inflows of about Rs.4000-5000 crore from the new seven percent bonds announced by the government earlier," he said.

He said the gilt auction calendar for the second half would be released later on Wednesday after the central bank governor approves it. Bureau Report