Budget 2023 | Govt to borrow record ₹15.4 lakh crore in FY24 to bridge revenue gap
The Hindu
The figure is higher than the total borrowing of ₹14.21 lakh crore for the current financial year ending March 31, 2023, said the Finance Minister
The government plans to borrow a record ₹15.4 lakh crore from dated securities in FY24 to meet its expenditure requirement to prop up the economy.
This is higher than the total borrowing of ₹14.21 lakh crore for the current financial year ending March 31, 2023.
Also Read | Budget 2023 | How is money allocated and where does it come from?
Finance Minister Nirmala Sitharaman while presenting the Budget on February 1 said the net market borrowings from dated securities are estimated at ₹11.8 lakh crore to finance the fiscal deficit in 2023-24.
“The balance financing is expected to come from small savings and other sources. The gross market borrowings are estimated at ₹15.4 lakh crore,” she said.
The government has raised ₹12.93 lakh crore till January 27, which is 91% of the overall borrowing target of ₹14.21 lakh crore estimated for 2022-23.
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