News Buzz

Govt set to borrow INR 2.68 lakh cr in H2

Keeping the fiscal deficit at glide path at 3.3% of the GDP in the current fiscal, the government’s borrowings will be within the budgeted Rs 7.1 lakh crore. The government, however, was ambiguous in terms of the country’s maiden overseas sovereign debt plan. Economic Affairs Secretary Atanu Chakraborty pointed out that so far, over 62% of the budgeted borrowing has been already resorted to and the remaining half of the current fiscal will see the remainder of Rs 2.68 lakh crore being borrowed in rupee denomination.

The data released by the Controller General of Accounts (CGA) has showed that the fiscal deficit (the gap between expenditure and revenue) touched Rs 5.54 trillion at the end of August, which was 78.7% of the Budget Estimate for 2019-20.