Mumbai: The government will borrow Rs 2.40 lakh crore ($39.25 billion) via bonds in the second half of the current fiscal year (2014-15) ending March 2015, taking the annual borrowing to Rs 5.92 lakh crore, Finance Secretary Arvind Mayaram said on Friday.
Average weekly borrowing will be Rs 14000-15000 crore in the second half, Mr Mayaram told reporters in New Delhi.
He added that the government expects substantial cash surplus by the end of the year and will undertake "substantial" switch/buyback operations of bonds.
The borrowing programme is scheduled to end by mid-February.
The fiscal deficit target for 2014-15 has been retained at 4.1 per cent of GDP, with economic growth seen around 5.7-5.9 per cent for the year.
($1 = 61.1400 rupees)
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