The government will raise Rs.2.08 trillion through market borrowings in the second half of 2017-18, sticking to its budget, but does not rule out the possibility of selling more government bonds for additional spending. The majority of the borrowing would be completed by December, economic affairs secretary Subhash Chandra Garg said in a press briefing on Thursday. According to the calendar released by the Reserve Bank of India (RBI), the government will raise Rs1.65 trillion by the end of December. The need for additional borrowing would be assessed in December once the supplementary demand for grants is placed in Parliament. By sticking to the borrowing numbers, the government has sent a positive signal and avoided negative implications on ratings.

(Live Mint)