Government to borrow $37.7 bn in Oct-March: Source

Mumbai: The government will borrow a gross 2.49 trillion rupees ($37.70 billion) between October and March, or the second half of the 2015/16 fiscal year, a source familiar with the details told Reuters on Monday.

New Delhi will borrow 2.34 trillion rupees via bonds and 150 billion rupees via gold bonds, the source added.

India this year unveiled a new category of bonds that will pay interest rates linked to the bullion price.

The gross borrowing is part of the 6 trillion rupees in debt sales planned for the full 2015/16 year announced by Finance Minister Arun Jaitley when presenting the federal budget in February.