New Delhi, Sep 29 (SocialNews.XYZ) The government will borrow Rs 5.92 lakh crore, or 41.7 per cent of planned gross market borrowing of Rs 14.21 lakh crore for the current financial year, in the second half of the fiscal ending March 31, 2023, the Finance Ministry said in a statement on Thursday.
The full-year borrowing target was brought down to Rs 14.21 lakh crore from the original Rs 14.31 lakh crore which was mentioned in the Union Budget for 2022-23.
The borrowing plan for the second half of the current fiscal includes raising Rs 16,000 crore through issuance of sovereign green bonds (SGrBs) as per the announcement made in the Union Budget 2022-23.
The government will also borrow funds from the market in the second half of the current fiscal through 20 weekly auctions of its bonds. Also weekly borrowing through issuance of treasury bills in the third quarter of 2022-23 is expected to be Rs 22,000 crore.
To take care of temporary mismatches in Government accounts, the Reserve Bank of India has fixed the Ways and Mean Advances (WMA) limit for H2 of FY 2022-23 at Rs 50,000 crore, the statement said further.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
