India to decide October-March borrowing at September 28 meeting: Finance Ministry source

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India to decide October-March borrowing at September 28 meeting: Finance Ministry source

India will decide its October-March government borrowing amount on Thursday, a finance ministry official said on Tuesday.

The government has said it will borrow 3.72 trillion rupees ($56.92 billion) via bonds during April-September, comprising 64 percent of its full-year borrowing.

However, market participants expect the government to borrow more than the estimated amount in the second half of the fiscal year ending March, given its plans for fiscal stimulus to boost the economy which will entail higher-than-budgeted spending.

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