PRIMARY CONCERNS

Article Abstract:

Government of India's primary deficit may surge to Rs32,000 crore during 1998-99, according to a report by ICICI Securities. The primary deficit is fiscal deficit minus interest payments. The surge indicates that the fiscal deficit is increasing due to fiscal deterioration in the current year. The additional borrowings made during the current year will add to the next year's payment burden. The primary deficit should be reduced to see that future debt service obligations are minimized. The Government was forced to resort to higher borrowings as it could not check its expenditure. Also revenues could not meet the targets during the year. (um)(psr)

Government expenditures, Security brokers and dealers, Securities Brokerage, Securities Trading, Securities industry

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CALL MARKET SEES EASY TREND

Article Abstract:

The trends in the call money markets were easy on January 5, 1999 due to good liquidity. Call rates opened high at 9.05- 9.15 percent (on Monday it had closed at 8.00-8.10 percent). However, the rates dropped to 8.75-9.00 percent by the end of the day. Majority of the transactions were carried out in the range of 8.9-9.05 percent. RBI's repo sale did not attract any application on 4th and 5th January 1999. This enabled availability of ample funds in the money markets. (um)

Investment Banking and Securities Dealing, Forecasts, trends, outlooks, Open-End Investment Funds, Money Market Invest Funds, Bank Money Market Funds, Mutual fund industry, Money market funds, Money market accounts

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