India to borrow 400 bln rupees more in 2011/12: RBI

Discussion in 'Economy & Infrastructure' started by Yusuf, Dec 30, 2011.

  1. Yusuf

    Yusuf GUARDIAN Administrator

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    MUMBAI: India will borrow an additional 400 billion rupees through dated securities in the current fiscal year ending in March, the RBI said on Friday.

    The government will borrow 140 billion rupees each in January 2-6 week, January 9-13 week and January 16-20 week, it said in a statement.

    The government will borrow 130 billion rupees each in January 23-27 week and January 30-February 3 week.

    It will also borrow 120 billion rupees each in February 6-10 week, February 13-17 week, February 20-24 week and March 5-9 week.

    http://m.timesofindia.com/PDATOI/articleshow/11306672.cms
     
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  3. Daredevil

    Daredevil On Vacation! Administrator

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    And why will they borrow it?, to splurge on their misguided Food Security Bill?.
     
  4. Godless-Kafir

    Godless-Kafir DFI Buddha Senior Member

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    400bln RS is 40,000Cr?
     
  5. Apollyon

    Apollyon Führer Senior Member

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    it's around $7.54 billion ..so what's the fuss ..!!
     
  6. Yusuf

    Yusuf GUARDIAN Administrator

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    The report dies not say why the govt is going to borrow so much? Currency manipulation??
     
  7. sob

    sob Moderator Moderator

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    No this money cannot be used for currency manipulation. This is to cover the shortfall between the planned expenditure and the tax receipts. The figure cold go up more thus keeping the upward pressure on the interest rates and hurting the industrial growth, by denying cheaper credit to private companies.
     
  8. Godless-Kafir

    Godless-Kafir DFI Buddha Senior Member

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    Cancel the MMRCA deal and take 7.54bln and give the rest to HAL to build a 4.5gen twin engine aircraft from the LCA base and that would solve everything...
     

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