India to decide on FY11 H1 borrowing on March 29

BANGALORE, March 22 (Reuters) - Indian finance ministry and central bank officials will meet in New Delhi on March 29 to decide on the federal borrowing for the first half of fiscal year 2010/11, a central bank deputy governor said on Monday.

"Issue is not frontloading but how to do and how much to do," Shyamala Gopinath told reporters on the sidelines of an event in the southern city of Bangalore.

India is budgeted to borrow a record gross 4.57 trillion rupees ($100 billion) in the fiscal year starting April 1, and a majority of this is expected to be borrowed in the first half of the year.

India on Friday unexpectedly raised interest rates from record-low levels for the first time since it began cutting in 2008, citing intensifying inflationary pressures and a steady economic recovery. [ID:nSGE62L01X] ($1 = 45.5 rupees) (Reporting by Suvashree Dey Choudhury; Editing by Ranjit Gangadharan)