Centre to borrow Rs 8.45 lakh crore from market during April-September period
Zee News
Out of the gross market borrowing of Rs 14.31 lakh crore estimated for the next financial year, Rs 8.45 lakh crore is planned to be borrowed in the first half or April-September period.
New Delhi: The Union government is looking to raise Rs 8.45 lakh crore through borrowings in the first half of 2022-23 to fund the revenue gap for reviving the economy, the finance ministry said on Thursday.
Out of the gross market borrowing of Rs 14.31 lakh crore estimated for the next financial year, Rs 8.45 lakh crore is planned to be borrowed in the first half or April-September period.
The government has front loaded its borrowing programme as the 60 per cent of the record borrowing planned for the financial year beginning April 1 would be complete in the first six months itself.
Front loading of borrowing will be done with the objective of pushing capital expenditure which will have a multiplier effect on the economy.
As per the Union Budget document, the gross market borrowing through dated securities for 2022-23 will be Rs 14,95,000 crore. Taking into account the switch operations conducted on January 28, 2022, the gross market borrowing through dated securities for 2022-23 is expected at Rs 14,31,352 crore, the ministry said in a statement.
