Centre plans to borrow Rs 7.5 lakh cr to bridge revenue gap and bolster growth
New Delhi: The government is planning to borrow Rs 7.5 lakh crore through market borrowing between April and September 2024-25 to bridge the revenue gap and stimulate economic growth, the finance ministry said on Wednesday.
In the first half of the fiscal year 2024-25, out of the projected gross market borrowing of Rs 14.13 lakh crore, approximately 53 percent, or Rs 7.5 lakh crore, is earmarked for borrowing, as per an official statement.
Finance Minister Nirmala Sitharaman had proposed in the interim Budget to raise Rs 14.13 lakh crore through issuing dated securities to address the revenue deficit in the upcoming financial year.
This year's projected gross borrowing estimate of Rs 14.13 lakh crore is lower than last year's figure of Rs 15.43 lakh crore, which marked the highest ever borrowing amount.
Private investment in the steel and cement sector is showing signs of growth, attributed to the significant capital expenditure undertaken by the government.
In contrast to the projected estimate of Rs 10 lakh crore for the fiscal year 2023-24, the government has allocated Rs 11.11 lakh crore for the following year.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Farah Khan breaks silence on 'unfollowing' Deepika Padukone and '8-hr shift' remark
'It feels good when country's leader bats on front foot': Suryakumar Yadav on PM Modi's 'Operation Sindoor on games field' post
US asked India not to start war against Pakistan after 26/11: Chidambaram's admission embarrasses Congress; BJP reacts
Nicole Kidman, Keith Urban separate after 19 years
