Government, RBI To Meet This Month On FY17 Borrowing Plan
March 4, 2015: The government is all set to plan the borrowing calendar for the next fiscal year. The finance ministry and the Reserve Bank of India will meet later this month to make the borrowing calendar.
The government has planned to borrow Rs. 4.2 lakh crore during 2016-17 to over its expenses.
"We will have a meeting in the middle of March. The (borrowing) calendar would be designed in such a manner that it is non-disruptive," Economic Affairs Secretary Shaktikanta Das told PTI in an interview.
The meeting may get conducted between March 15 and March 20. The exact date has not been decided yet.
RBI will do an analysis of investments to get a clear view. The government has borrowed Rs. 4.4 lakh crore in this fiscal year. As per the Budget presented by Mr. Arun Jaitley, the government is intending to borrow Rs. 4.2 lakh crore in 2016-17.