Govt cuts gross borrowing estimate for current fiscal by Rs 70,000 crore

Economic Affairs Secretary SC Garg has announced a reduction in gross borrowing estimate for the current fiscal by 70,000 crore rupees and maintained that the government will contain fiscal deficit target at 3.3 per cent.

Giving details about the borrowing programmes for the second half of the fiscal, Mr Garg said, the government would be borrowing around 2 lakh 50,000 crore rupees as compared to 2 lakh 88,000 crores during April-September of 2018-19.

The Secretary said, the Centre will also launch inflation-indexed bonds, adding that one or two bond issues will come in the current fiscal.

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