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E-mail ID will not be published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

  • Banks must learn from past mistakes to promote financial inclusion

    Prime minister Narendra Modi launched a massive financial inclusion programme yesterday titled “pradhan mantri jan dhan yojana’ (PMJDY), that will

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Could prohibition mean profiteering?

In the mid 1930s, an American journalist asked Bapu if ...

Zehra Naqvi

The five universal languages of love

Love is a universal language. Don’t we all believe that? ...

Dharmendra Khandal

Time to protect our endangered wildlife species

After 65 million years of existence, the earth’s biodiversity is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture