In a move to contain fiscal deficit, the government cancelled 12,000 crore rupees bond auctions to lower its market borrowing programme for the current financial year. With this, the total market borrowing by the government in the current fiscal would come down to 5.58 lakh crore rupees from 5.70 lakh crore rupees as envisaged in the 2012-13 Budget. The Finance Ministry said, the move has been decided, in consultation with Reserve Bank of India, to reduce the government market borrowing through dated securities.