Finance Resources
Investment Planning
Stock Market
Futures & Options
Mutual Funds
Home » Finance Current Affairs » Finmin, RBI to finalise borrowing plan soon

Finmin, RBI to finalise borrowing plan soon

Current Affairs

New Delhi: Government and Reserve Bank of India officials will meet in 10-12 days to finalise the government's borrowing plan for the second half of the fiscal year ending March 2010, Finance Secretary Ashok Chawla said on Tuesday.

Late on Monday, the finance ministry said every government department will have to cut its non-plan expenditure by 10 percent for certain heads such as domestic and foreign travel, office expenses and other administrative spending.

"In view of the current fiscal situation and that arising out of insufficient rain in large parts of the country, and the consequent pressure on government resources, there is need for further economy and rationalization of expenditure," the ministry said in a notification posted on its website.

A copy is available on: here

The government has sold 2.82 trillion rupees ($58 billion) of bonds so far in the current fiscal year from the 2.99 trillion rupees targeted in the first half ending Sept. 30. It plans to raise a record 4.51 trillion rupees in the fiscal year 2009/10.

Chawla said the borrowing may be reduced if the magnitude of savings generated by its expenditure cuts are "huge".

Expenditure Secretary Sushama Nath told reporters the finance ministry will stick to its spending target of 10 trillion rupees for the current fiscal year ending March 2010.

More Current Affairs
1 2 3 4 5 6 7 8 9 10 11 >> Next

put comment
Domain Registration | Windows Hosting | Linux Hosting | Java Hosting | Virtual Dedicated Server | Dedicated Server | Reseller Web Hosting | Unlimited Windows reseller hosting | Unlimited Linux reseller hosting | Cheap Windows reseller hosting | Cheap Linux reseller hosting | Cheap Windows hosting | Best Windows hosting | Windows hosting Multiple Domains | Unlimited Windows hosting | Compare hosting plans | Cheap Linux hosting | Best Linux hosting | Linux hosting Multiple Domains | Unlimited Linux hosting | Cheap asp.net hosting | Best asp.net hosting | unlimited asp.net hosting | Cheap asp.net reseller hosting | Unlimited asp.net reseller hosting | Java Features | Cheap Java hosting | Best Java hosting | unlimited Java Hosting | Unlimited Linux reseller hosting | Java Hosting Multiple Domains| | Matargashti Full Song | Matargashti mp3 Download | Matargashti Video Download | Matargashti Song Tamasha | Prem Ratan Dhan Payo Songs Download | Prem Ratan Dhan Payo Songs mp3 Download | Prem Ratan Dhan Payo Songs Video Download | Pinga Song Download | Pinga Full Song mp3 Download | Pinga Song mp3 Download | Pinga Song Video Download | Latest Bollywood Updates | Bollywood Updates | Prem Ratan Dhan Paayo Songs Download|
© ProfitGuruOnline-2024. All Rights Reserved.