The government on Tuesday said it does not intend to increase borrowing target for the current fiscal 2009-10, which has been pegged at Rs. 4.51 lakh crore. Finance Secretary Ashok Chawla told this to reporters in New Delhi ahead of the meeting to decide the borrowing schedule for the second-half of the fiscal. Mr. Chawla further said increasing borrowing limits is not necessary and that is not on the table.The government has stepped up the market borrowing programme from Rs. 3.10 lakh crore in the previous fiscal to Rs. 4.51 lakh crore in the current fiscal to combat the impact of the global slowdown on the country's economy. During the first-half, the government had decided to mop up Rs. 2.99 lakh crore through bonds.ws Content
News On AIR | September 29, 2009 5:53 PM
Business NeNo proposal to increase borrowing: Finance Secretary