Govt to borrow 3.7 tn rupees in April-Sept: economic affairs secretary

India will borrow a gross 3.70 trillion rupees ($72.98 billion) in the first half of the fiscal year that begins on April 1, economic affairs secretary R Gopalan said today, which is 65%of the full-year target.

India will borrow a gross 3.70 trillion rupees ($72.98 billion) in the first half of the fiscal year that begins on April 1, economic affairs secretary R Gopalan said on Tuesday, which is 65%of the full-year target.

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Traders largely expected borrowing for the period to be in the range of 3.6 trillion to 3.8 trillion rupees.

Earlier this month, New Delhi announced a gross market borrowing of 5.7 trillion rupees ($112.43 billion) for the 2012/13 fiscal year, higher than an expected 5.3 trillion rupees, to help bridge its fiscal deficit that is forecast to be 5.1%of the GDP.