The Hindu Business Line : Centre to borrow Rs 83,000 cr in H1

THE Central Government is scheduled to borrow Rs 83,000 crore from the domestic debt market through issuances of marketable dated securities in the first half of the fiscal 2005-06, as per Reserve Bank of India's issuance calendar.

The Centre had borrowed Rs 59,000 crore in the first half of the fiscal 2004-05.

The securities being issued range from a maturity of five years to above 20 years.

All the auctions covered by the calendar will have the facility of non-competitive bidding scheme under which five per cent of the notified amount will be reserved for specified retail investors, said an RBI press release.

Variable rate bonds will account for about 20 per cent of the total issuance, depending upon market requirement.

The calendar is subject to variations depending on market conditions and other relevant factors. As in the past, the RBI will also have flexibility to vary issuance of Government securities keeping in view the emerging requirements of the Government.

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