(a) whether the Government proposes to raise/borrow Rs. 3.6 lakh crores through bonds during the first half of the financial year 2015-16 and peg the fiscal deficit at 3.9 percent of Gross Domestic Product; and
(b) if so, the details thereof along with the steps taken in this regard?
MTNISTER OF STATEINTHE MIN1STRYOF FINANCE ( SHRI JAYANT SINHA)
(a}& (b): Yes Sir, the Government has budgeted the fiscal deficit at Rs. 5.56 lakh crore i.e.at 3.9% of GDP for the financial year 2015-16. Government of India in consultation with Reserve Bank of India (RBI) has decided to raise funds through issuance of dated securities to the extent of ? 3.60 lakh crore in the first half of 2015-16 out of the budgeted gross borrowing of ? 6 lakh crore for the financial year 2015-16 to bridge the gap between the revenue and expenditure. For this purpose an indicative market borrowing calendar containing information about the amount of borrowing, the tenor of security and likely period during which auction will be held etc. for the first half of 2015-16 was issued by the Government of India in consultation with RBI on 23rd March, 2015.