Govt plans to cancel Rs 12K cr bond auction

Business

The finance ministry had ruled out additional borrowing for the fiscal, even though it has not been able to raise the Budgeted receipts from disinvestment in public sector firms and auction of spectrum. "We will not go into the market for additional borrowings this fiscal and will be able to keep the fiscal deficit at 5.3 per cent of GDP," economic affairs secretary Arvind Mayaram had said recently in Mumbai.

Cash balance

* The Centre had kept a gross borrowing target of Rs 5.7 lakh crore for the fiscal, of which it has raised 5.58 lakh crore

* Strict spending checks initiated by finance minister to meet the fiscal deficit have helped the government garner a cash balance of over Rs 80,000 crore

* The cash balance is also expected to help the government meet nearly Rs 95,000 crore in bond redemption

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