Govt plans to borrow `2.08 lakh crore in second half of FY18

To finance the fiscal deficit for the current financial year, the Budget has pegged gross borrowing at INR 5.8 lakh crore and net borrowing at INR 4.25 lakh crore.

The government borrowed INR 3.72 lakh crore in the first half and has pegged gross borrowings at INR 2.08 lakh crore in the remaining six months of the financial year-ending March 31, Secretary, Department of Economic Affairs (DEA), Subhash Chandra Garg told reporters after a meeting to decide the borrowing calender.

The net borrowing in the October-March period has been pegged at INR1.92 lakh crore.

"As per the budgeted programme, the calendar was finalised. Major part of borrowing would be in the next three months and early January and leave the smaller part for the rest of January and February- March," Garg said.

Average tranche of borrowing would be about INR 15,000 crore, he said, as the finance ministry released the calender.

Major part of borrowing would be in the next three months and early January.

On additional borrowing, the Secretary said: "If there is any need, which we don't foresee at any point of time, but if there is any need, then we may".

Assessment of additional borrowing requirement, if any, would be made in December, he added.

Amid talks of stimulus package to boost sagging economic growth, Garg said deficit targets are set in the Budget and the finance ministry will stick to them as of now.

"Fiscal deficit as of now, we stick to 3.2 per cent. As of now, confident of meeting the target," he said.

Answering questions on lower dividend paid to the government by the Reserve Bank of India, Garg said discussions are on with the central bank for additional transfers.

In the wake of expenditure incurred towards demonetisation, RBI had halved its dividend payout to the government to INR 30,659 crore for the year ended June 2017.