WORRISOME FISC
Article Abstract:
The gloomy situation on India's fiscal front has revived the uneasiness that the country is moving towards a debt-trap. The country's revenue receipts are not sufficient enough to meet debt service requirements. The government has to borrow substantial sums to meet current expenditure due to increasing revenue deficits. Interest payments as a percentage of revenue receipts has risen to 47.4 percent in 1997-98 from about 45 percent in 1995-96. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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Rs4,000-CR GILTS AUCTION SEES SALE OF ONLY Rs 50 L
Article Abstract:
The Rs4,000 crore auction of the government's nine-year paper devolved 99.99 percent on the Reserve Bank of India. Only one bid worth Rs50 lakh was accepted at a cut-off coupon rate of 11.9 percent. RBI received a total of 130 bids aggregating Rs3,312 crore. The entire devolvement fell on RBI as the primary dealers shunned the auction by demanding huge underwriting commissions. (gsh)
Comment:
India: The Rs4,000 crore auction of Govt's nine-year paper devolves 99.99% on the Reserve Bank of India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CALL RATE REMAIN STEADY
Article Abstract:
The call rates were ruling at 9.15-9.40 percent on October 16, 1998, in the inter-bank call money market. During the day, the prices of government securities were stable. Few FI bonds entered the market. The Reserve Bank of India raised Rs13 crore through four-day repos during the day. (ag)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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