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The Government on Friday announced that it has decided to prematurely repurchase G-secs worth ₹20,000 crore, indicating that its overall borrowing for the current fiscal may be lower than initially budgeted.
The repurchase will be undertaken to prematurely redeem the Government stocks by utilising surplus cash balances, an official release said.
The repurchase is purely ad-hoc in nature, it added.
The Centre had budgeted net borrowing of ₹4.61 lakh crore in 2014-15, nearly ₹8,000 crore lower than net borrowing of ₹4.69 lakh crore in 2012-13.
The Government had initially estimated to borrow ₹3.68 lakh crore in the first half this fiscal, accounting for 61.3 per cent of the total budget target for 2014-15.
The actual borrowing in the first half this fiscal was lower than planned.
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