“There is sufficient liquidity so far in the market. I don’t think it is going to harden that much at least in the next three to four months,” he said when asked if the large government borrowing programme will have an adverse impact on interest rates.
Higher borrowings
The government plans to borrow nearly Rs 4,00,000 crore from markets during 2009-10, a rise of about 50 per cent over what it borrowed a year ago, to fund the widening fiscal deficit necessitated after stimulus doses for the economy. The net market borrowing of the government through issue of dated securities in 2009-10 is estimated at Rs 3,97,957.46 crore, FM Pranab Mukherjee said while presenting the Budget 09-10.
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