March 26, 2018 / 12:42 PM / 3 months ago

India plans to borrow 2.88 trillion rupees in H1 2018/19

NEW DELHI (Reuters) - India plans to borrow 2.88 trillion rupees ($44.40 billion) in the first half of the 2018/19 financial year that begins in April, the government said on Monday.

An India Rupee note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration

In the federal budget unveiled in February, the government said it envisages a gross market borrowing of 6.06 trillion rupees in 2018/19 and a net market borrowing of 4.62 trillion rupees.

The government and the central bank are also considering a plan to raise the foreign investment limit in government bonds, S.C.Garg, economic affairs secretary, told reporters.

($1 = 64.8600 Indian rupees)

Reporting by Manoj Kumar; Writing by Aditya Kalra; Editing by Sanjeev Miglani

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