Market borrowings touch 57% of Budget Estimates in June

New Delhi, August 17 (IANS): The government's market borrowings have touched Rs 2.54 lakh crore, which is 57 per cent of the Budget Estimates, as of June 2019.

The budgeted market borrowing is Rs 4.48 lakh crore for the fiscal. 

On a comparison basis, the borrowing was 31 per cent in the same time of the last fiscal, as per the Controller General of Accounts. 

Government raises funds from the market to fund its fiscal deficit through dated securities and Treasury bills. The fiscal deficit for the year is 3.3 per cent.

At the level of gross borrowings, which is Rs 7.06 lakh crore, already 60 per cent has already been taken at Rs 4.25 lakh crore, which is lower than 68 per cent at this time in the last fiscal.

The government plans to borrow Rs 4.48 lakh crore from the market in 2019-20, marginally higher than the Rs 4.47 lakh crore estimated for the current financial year ending March 2019.

Gross borrowing includes repayments of past loans. Repayment for past loans in the next fiscal has been pegged at Rs 2.36 lakh crore.