Govt to borrow Rs 503 lakh cr in H2 FY22 to fund revenue gap
New Delhi Sep 27 PTI The government will borrow Rs 503 lakh crore in the second half of the current fiscal to fund the revenue gap for reviving the pandemic-hit economy the finance ministry said on Monday During the first half the government has raised Rs 702 lakh crore by issuing bonds the ministry said in a statement Out of gross market borrowing of Rs 1205 lakh crore projected for FY 2021-22 in the Union Budget Rs 724 lakh crore 60 per cent was planned to be borrowed in first half H1 The effective borrowing in H1 of FY 2021-22 was Rs 702 lakh crore The Government now plans to borrow the balance Rs 503 lakh crore in second half year H2 of FY 2021-22 it said The H2 projection also factors requirements for release of balance amount to states on account of back-to-back loan facility in-lieu of GST compensation during the year it added According to the Budget for 2021-22 the governments gross borrowing was estimated at Rs 1205 lakh crore while net borrowing was pegged at Rs 937 lakh crore in the financial year beginning April 1 Gross borrowing includes repayments of past loans Repayment for past loans in the next financial year has been pegged at Rs 280 lakh crore The government raises money from the market to fund its fiscal deficit through dated securities and treasury bills The Budget has pegged fiscal deficit at 68 per cent for the next fiscal down from 95 per cent of the GDP in the current financial year PTI DP ABM ABM
New Delhi Sep 27 PTI The government will borrow Rs 503 lakh crore in the second half of the current fiscal to fund the revenue gap for reviving the pandemic-hit economy the finance ministry said on Monday During the first half the government has raised Rs 702 lakh crore by issuing bonds the ministry said in a statement Out of gross market borrowing of Rs 1205 lakh crore projected for FY 2021-22 in the Union Budget Rs 724 lakh crore 60 per cent was planned to be borrowed in first half H1 The effective borrowing in H1 of FY 2021-22 was Rs 702 lakh crore The Government now plans to borrow the balance Rs 503 lakh crore in second half year H2 of FY 2021-22 it said The H2 projection also factors requirements for release of balance amount to states on account of back-to-back loan facility in-lieu of GST compensation during the year it added According to the Budget for 2021-22 the governments gross borrowing was estimated at Rs 1205 lakh crore while net borrowing was pegged at Rs 937 lakh crore in the financial year beginning April 1 Gross borrowing includes repayments of past loans Repayment for past loans in the next financial year has been pegged at Rs 280 lakh crore The government raises money from the market to fund its fiscal deficit through dated securities and treasury bills The Budget has pegged fiscal deficit at 68 per cent for the next fiscal down from 95 per cent of the GDP in the current financial year PTI DP ABM ABM
