Marketing borrowing programme to be in line with budget estimate:FM

Nainital, Sep 24 (UNI) Union Finance Minister P Chidambaram today said the government's market borrowing programme would be in accordance with the budget eestimate and it was within reach to control Inflationary pressures with present interest rates.

The government is likely to announce the second-half borrowing schedule tomorrow.

Officials from the Reserve Bank and the Finance Ministry discussed the issue extensively last week.

When asked about the government's borrowing plan for the second half of the financial year ending March 2007, Mr Chidambaram said it would be in accordance with the budget.

The Finance Minister said it was practicable to control inflationary pressures with current interest rates and the Reserve Bank may not need hike rates.

There was ample liquidity, he informed.

He said recently stable-to-moderating global oil prices, a possible end in the U.S. central bank's interest rate increase campaign and still-sound global demand, would help the Indian economy grow by more than 8 per cent in the year to March 2008.

The government has so far raised 890 billion rupees out of a budgeted total of 1.53 trillion rupees for the financial year.

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