"We will issue long-term bonds of 40 years in early next financial year. It will help us in the long run and will provide stability in the system," Finance Secretary Rajiv Mehrishi said.

The total borrowing in the first six months would be to the tune of Rs 3.6 lakh crore, he added.

The government borrows money from the markets through T-bills and other instruments to fund its fiscal deficit.

Giving details of borrowing programme for 2015-16, he added the central government would be borrowing about Rs 17,000-18,000 crore through bonds every week.

The calender for market borrowing was decided at a meeting between officials of the Finance Ministry and Reserve Bank (RBI).

The net borrowing in the first half of the current fiscal would, however, be Rs 2.25 lakh crore, Mehrishi asserted, adding "government will issue concept paper on switching (of government bonds) in 15 days."

The government, as per the budget papers, plans to borrow Rs 6 lakh crore from the market in the next fiscal, up from Rs 5.92 lakh crore in 2014-15.

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