India May Borrow $9.5 Billion By Pledging Assets: Bloomberg

[Nadimitla Abbulu]

[color=#3F3F3F][font=georgia][left]MUMBAI: India plans to borrow up to Rs 500 billion ($9.5 billion) by pledging property and shares to bridge the government's budget deficit, [/left][/font][/color][url="http://timesofindia.indiatimes.com/topic/Bloomberg"]Bloomberg[/url][color=#3F3F3F][font=georgia][left] reported on Thursday, citing unnamed government officials. [/left][/font][/color]

[color=#3F3F3F][font=georgia][left]Shares in companies such as cigarette-to-hotels group [/left][/font][/color][url="http://economictimes.indiatimes.com/itc-ltd/stocks/companyid-13554.cms"]ITC[/url][color=#3F3F3F][font=georgia][left], engineering conglomerate Larsen & Toubro and [/left][/font][/color][url="http://economictimes.indiatimes.com/axis-bank-ltd/stocks/companyid-9175.cms"]Axis Bank[/url][color=#3F3F3F][font=georgia][left]held by a state-controlled fund could be offered as collateral to raise the cash, the news agency said. [/left][/font][/color]

[color=#3F3F3F][font=georgia][left]The cash will be used by a newly-created fund manager to buy stock in state-run companies and help the government's 400 billion rupees divestment programme for the fiscal year that ends in March, it said. [/left][/font][/color]


[color=#3F3F3F][font=georgia][left] (!(<kaani defence purchases paina intakanna ekkuve spend chestunnam kada[/left][/font][/color][color=#3F3F3F][font=georgia][/font][/color]

[Chocolateboy]

our defense representative BENZBABU is in India. Will keep ur post in hold till then. Please maintain ur status as it is.