India News | Govt to Borrow Rs 8.45 Lakh Cr from Market in Apr-Sep
Get latest articles and stories on India at LatestLY. The Union government is looking to raise Rs 8.45 lakh crore through borrowing in the first half of 2022-23 to fund the revenue gap for reviving the economy, the Finance Ministry said on Thursday.
New Delhi, Mar 31 (PTI) The Union government is looking to raise Rs 8.45 lakh crore through borrowing in the first half of 2022-23 to fund the revenue gap for reviving the economy, the Finance Ministry said on Thursday.
Out of gross market borrowing of Rs 14.31 lakh crore estimated for FY2022-23, Rs 8.45 lakh crore is planned to be borrowed in the first half (H1), an official statement said.
As per the Budget document, the gross market borrowing through dated securities for 2022-23 is 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, it said.
The borrowing is scheduled to be completed in 26 weekly tranches of Rs 32,000-33,000 crore, it said.
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It further said, the borrowing will be spread under 2, 5, 7, 10, 14, 30 and 40 year securities and Floating Rate Bonds of various tenors.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)