Rlys to borrow Rs 15,103 cr for 2013-14

Indian Railways will go in for market borrowing of Rs 15,103 crore in 2013-14 to part finance its highest-ever planned investment of Rs 63,363 crore proposed for the next fiscal.

This borrowing will be done through the Indian Railway Finance Corporation (IRFC), which is the market borrowing arm of the Railways.

Besides the market borrowing, the plan is proposed to be financed through gross budgetary support of Rs 26,000 crore, the Railways’ share in the road safety fund of Rs 2,000 crore and internal resources of Rs 14,260 crore, Rail Minister Pawan Kumar Bansal said on Monday. The Railways is also expected to mobilise Rs 6,000 crore through the public-private partnership route, Bansal said in his speech.

For 2012-13, the Railways had targeted market borrowings of Rs 15,000 crore through IRFC. Of this, IRFC had, till mid-February this year, mobilised about Rs 8,150 crore, which comprises tax-free bonds of Rs 6,500 crore and external commercial borrowing of Rs 1,650 crore.

For the balance, Rs 6,800 crore, IRFC is likely to use options such as term loans and the external commercial borrowing window, Rajiv Dutt, IRFC Managing Director, said recently.

http://www.thehindubusinessline.com/todays-paper/tp-others/tp-international/rlys-to-borrow-rs-15103-cr-for-201314/article4459965.ece

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