Govt borrows Rs5b per day in current FY

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Govt borrows Rs5b per day in current FY

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Government borrowed Rs5b per day from schedule banks in 59 days of current FY for official expenses.

19 September,2012 05:00 pm

As per details, the government borrowed about Rs 358 billion from schedule banks during 1st of July to September 7.During this, only 148 billion could be returned to the National Bank while Rs 209 billion were spent in order to run other matters of the state.On the other hand, the Central Bank is providing billions of rupees to money market system in Open Market Operation and making the . By this way, the government is being suppressed by the burden of loans of schedule banks.