Online BusinessGovt to raise Rs 97,000 cr through T-bills
The government today said it will raise Rs 97,000 crore in the last quarter of the fiscal through treasury bills, which are short-term bonds.
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The government plans to sell the money market instruments worth Rs 33,000 crore in January, Rs 31,000 crore of T-bills in February and another lot of Rs 33,000 crore in March, it said in a statement today.
Most of the T-bills planned for auctions during January to March are of 91-day duration, while others are of 182- and 364-day durations.
T-bills are used to finance the short term requirements of the Indian government.
Raising of money through short-term instruments assume importance since the Centre"s fiscal deficit is projected to be around 6.8 per cent of the GDP.