Wed, 23rd August 2017

Anirudh Sethi Report


Archives of “bansal” Tag

Pawan Bansal resigns as Railway Minister

BREAKING NEWS-FLASHPawan Kumar Bansal, under fire over his nephew’s alleged involvement in bribery for a top railway board posting, resigned today as Railway Minister.

According to sources and TV reports, Bansal sent his resignation to Prime Minister Manmohan Singh this afternoon.

The sources said Labour Minister Mallikarjun Kharge may be country’s new Railway Minister.

Meeting higher govt borrowing a challenge: Reserve Bank

The Reserve Bank has said it is a tall order to manage government’s enhanced borrowing next fiscal but it will do its best.

“It is going to be a challenge managing the enlarged borrowing programme … but certainly we will see how best we manage,” Deputy Governor H R Khan, who oversees the government’s borrowing programme at the central bank, said.

According to Khan, there is a Rs 60,000 crore increase in the gross borrowing programme of the government in the next fiscal at Rs 5.69 lakh crore, while the net market borrowing will be Rs 4.70 lakh crore, up by Rs 43,000 crore.

The government badly missed both its fiscal deficit target of 4.6 per cent as well as its targeted borrowing programme of Rs 4.17 lakh crore this fiscal, as it ended up borrowing as much as Rs 92,000 crore extra, pushing up the fiscal deficit number to 5.9 per cent of the Gross Domestic Products.

The bond market got nervous following the Budget announcement on more government borrowing. The yield on the benchmark 10-year bonds moved up by 0.09 percentage point at close on Friday.