Government To Take A Loan Of Rs 8.45 Lakh Crore During April-September Period

Government To Take A Loan Of Rs 8.45 Lakh Crore During April-September Period
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The Central Government of India will be taking a massive loan of Rs 8.45 Crore from the market during the half yearly period of April to September this year. The fund will be taken from the market to bridge the gap of economic deficit that government faced due to the COVID pandemic lockdown and shut down.

Out of the gross market borrowing of Rs 14.31 lakh crore estimated for the next financial year, Rs 8.45 lakh crore is planned to be borrowed in the first half or April-September period. The government has front loaded its borrowing programme as the 60 per cent of the record borrowing planned for the financial year beginning April 1 would be complete in the first six months itself.

As per the Union Budget document, the gross market borrowing through dated securities for 2022-23 will be 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, the ministry said in a statement.

Story By- Saayak Karmakar, Resident Editor, Interview Times

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