Govt plans to borrow Rs 8.88 lakh cr from market in H1 FY24

Updated: Mar 29 2023 10:47PM

Govt plans to borrow Rs 8.88 lakh cr from market in H1 FY24

New Delhi, Mar 29 (PTI) The Centre plans to raise Rs 8.88 lakh crore through market borrowing in the April-September period of 2023-24 to fund the revenue gap to push economic growth, the Finance Ministry said on Wednesday.

Out of gross market borrowing of Rs 15.43 lakh crore estimated for FY2023-24, Rs 8.88 lakh crore or 57.5 per cent is planned to be borrowed in the first half (H1), an official statement said.

The borrowing is scheduled to be completed in 26 weekly tranches of Rs 31,000-39,000 crore, it said, adding that the borrowing will be spread under 3, 5, 7, 10, 14, 30 and 40-year securities.

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