Government may borrow Rs 5.8-6 trillion next FY: StanChart

Tags: News
Standard Chartered Bank estimates the government will announce on Monday gross borrowing for 2014/15 of 5.8-6 trillion rupees, based on the government's fiscal deficit target of 4.2 percent of GDP.

Finance Minister P. Chidambaram is due to unveil the interim budget on Monday, ahead of general elections.

StanChart adds the government could budget for a higher drawdown of cash balance in fiscal 2015 than in fiscal 2014, given the amount of redemptions.

The bank also estimates the government will end 2013/14 with a cash surplus of about 1 trillion rupees, despite the cancellation of the 150-billion-rupee auction, as national small savings fund collection had exceeded the budgeted amount by 361 billion rupees as of end-December 2013.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India must redefine poverty based on mobile haves and have nots

    Who is poor? Who is not?

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Varun Dutt

<b>Riskfactor</b>: Overdose of hope

As a conservative estimate, at least half of all new ...

Zehra Naqvi

Translated nuances

Translating a book from another language is a tough job, ...

Bubbles Sabharwal

Don’t let bullies get away, stand up to them

Boarding schools can be like a totalitarian regime. It can ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture