The finance ministry and RBI will meet on Feb 10 to decide on the requirement of government''s borrowing to bridge the revenue and expenditure, which was inflated due to the impact of financial crisis as well as two rounds of stimulus for the economy.
"We are having a meeting of cash and debt management team tomorrow. The deputy governor (of RBI Shyamala Gopinath) is coming. After that we will finalize whatever is the amount, whatever are the modalities," Ashok Chawla, Economic Affairs Secretary told reporters.
There has been stimulus of Rs 1,50,000 crore by way of excess expenditure and about Rs 50,000 crore by way of loss of revenue in direct as well as the indirect taxes, Chawla said. He also added that there is a need for borrowing which will be commensurate with the requirements. According to the revised borrowing schedule, the government would raise Rs 50,000 crore.
"We are having a meeting of cash and debt management team tomorrow. The deputy governor (of RBI Shyamala Gopinath) is coming. After that we will finalize whatever is the amount, whatever are the modalities," Ashok Chawla, Economic Affairs Secretary told reporters.
There has been stimulus of Rs 1,50,000 crore by way of excess expenditure and about Rs 50,000 crore by way of loss of revenue in direct as well as the indirect taxes, Chawla said. He also added that there is a need for borrowing which will be commensurate with the requirements. According to the revised borrowing schedule, the government would raise Rs 50,000 crore.
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