Borrowing plan set to be retained

Dec 27, 2010 |

Correspondent

The government will retain its borrowing plan of `4.47 lakh crore this fiscal, despite reducing the size of market mop-up by `10,000 crore earlier this month due to cash shortage in the system. This would be done by having another borrowing after February 11 when the scheduled calendar for mop-up ends, an official source said. He added that it could also be done by adjusting the amount within the planned borrowing. The scheduled market borrowing could also be increased till February 11, the source said. Centre had reduced its market borrowings by `5,000 crore each on auctions done on December 10 and December 25 after reviewing its cash position and liquidity situation in the market. It may also be noted that the RBI had blamed the government’s surplus cash balances for aggravating the liquidity situation.

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