Borrowings News

Fiscal deficit target of 3 per cent for 2017-18 looks difficult as the debt dynamics of the country show "stickiness", rating agency Crisil said on Saturday.

Former Union Finance Minister P Chidambaram today said the NDA government's claims to bring fiscal deficit to 3.5 per cent was built on factors like avoidance of direct borrowing and instead asking Ministries like Railways to go for it. 

State governments are expected to raise about Rs 95,000-1,05,000 crore in the form of market borrowings in the last quarter of the ongoing fiscal, Reserve Bank said Wednesday.

India Inc raised about USD 3.16 billion in overseas borrowing in June, showing a rise of 67 percent over the year-ago month, RBI data showed Monday.

Days ahead of RBI's annual monetary policy, Finance Minister Arun Jaitley on Wednesday said India needs lower interest rates for high growth and certainly there will be more rate cuts in future triggering reduction in cost of borrowings.

With this, the borrowing by way of dated securities (G-secs) for the entire fiscal will total Rs 5.92 lakh crore as against the Budget Estimate (BE) of Rs 6 lakh crore.

Moody's Investors Service on Tuesday said it expects Indian refiners' credit metrics to improve over the next 12 months on decline in borrowings.