Government plans to borrow extra Rs 50,000 crore in Jan-March

To meet its fiscal targets, government plans to borrow Rs 50,000 crore over and above the Budget estimate of Rs 5.8 lakh crore through gilt bonds in January-March period, according to reports.
This means it will now breach its fiscal deficit target for the year of 3.2 per cent of gross domestic product. In the first half of the current fiscal, government has borrowed 3.72 lakh crore.
To start the extra borrowing process, government plans to borrow Rs 18,000 crore via gilts in the January 5 week.
The move has come as the tax collection and revenue generation have been behind the government’s target. GST collections have been falling steadily over the months ever since the new tax regime was introduced in July.
As per the latest November data, GST collections have came down at Rs 80,808 crore — the lowest since July.

Was This Helpful?

  • 12 + 17 =

    Leave a Reply

    WordPress Themes