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Centre cuts borrowing target
Why in the news ?
- The government has decided to reduce its borrowing requirement for the year by Rs.72,000 crore, Economic Affairs Secretary said.
- The borrowing target for the October to March period has been set at Rs.2.47 lakh crore, as compared to Rs 2.88 lakh crore during April-September of 2018-19.
More in the news
- The finance ministry plans to stick to its fiscal deficit target of 3.3 per cent of Gross Domestic Product for 2018-19.
- Government announced Rs 70,000 crore reduction in the government’s gross borrowings for the entire year.
- The government will also be launching inflation-indexed bonds and one or two such bond issues will come in the current fiscal, he said.
- It said the reduction in market borrowings will be met via raising resources through other means such as small savings.
Source
Indian Express.