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NEW DELHI: The Finance Minister, Mr Pranab Mukherjee on Saturday allayed fears that high government market borrowing, pegged at about Rs 4 lakh crore, for the current fiscal will leave little resources for the private sector.

The RBI will handle market borrowings of the government this fiscal, Mr Mukherjee told reporters after his customary post-budget meeting with the RBI board here.

The government's borrowing is projected to be around Rs 4 lakh crore for this fiscal to fund its widening fiscal deficit pegged at 6.8 per cent of GDP.

Many fear that the high borrowing will crowd out or leave little money for the private sector to raise from the market. Asked whether interest rate will be cut he said, appropriate actions would taken as and when required. - PTI

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