NEW DELHI: The govt on Wednesday decreased the extra borrowing requirement for the present fiscal to Rs 20,000 crore from Rs 50,000 crore estimated earlier.
"Government has reassessed additional borrowing requirements taking note of revenue receipts and expenditure pattern. Requirement of additional borrowing being reduced from Rs 50,000 crore as notified earlier to Rs 20,000 crore," Economic Affairs Secretary Subhash Chandra Garg tweeted.
Last month, after consultation with the RBI the federal government had mentioned that it could make additional borrowing of Rs 50,000 crore this fiscal through dated securities. However, there will probably be no exchange within the net borrowings as envisaged within the Budget for 2017-18.
The diminished borrowing would assist include fiscal deficit inside the goal. The govt within the 2017-18 finances had estimated borrowings at Rs 43,000 crore through dated securities in present fiscal.
A decline in income collections from the Goods and Services Tax (GST), and decrease non-tax income have led to worry about govt assembly the fiscal deficit goal.
The govt has budgeted gross and net marketplace borrowings at Rs five.eight lakh crore and Rs 4.23 lakh crore, respectively in 2017-18.
As according to the latest figure, in November 2017 the fiscal deficit goal had breached finances goal and touched 112 according to cent of the finances estimate for 2017-18 principally due to decrease GST collections and higher expenditure.
"Government has reassessed additional borrowing requirements taking note of revenue receipts and expenditure pattern. Requirement of additional borrowing being reduced from Rs 50,000 crore as notified earlier to Rs 20,000 crore," Economic Affairs Secretary Subhash Chandra Garg tweeted.
Last month, after consultation with the RBI the federal government had mentioned that it could make additional borrowing of Rs 50,000 crore this fiscal through dated securities. However, there will probably be no exchange within the net borrowings as envisaged within the Budget for 2017-18.
The diminished borrowing would assist include fiscal deficit inside the goal. The govt within the 2017-18 finances had estimated borrowings at Rs 43,000 crore through dated securities in present fiscal.
A decline in income collections from the Goods and Services Tax (GST), and decrease non-tax income have led to worry about govt assembly the fiscal deficit goal.
The govt has budgeted gross and net marketplace borrowings at Rs five.eight lakh crore and Rs 4.23 lakh crore, respectively in 2017-18.
As according to the latest figure, in November 2017 the fiscal deficit goal had breached finances goal and touched 112 according to cent of the finances estimate for 2017-18 principally due to decrease GST collections and higher expenditure.
Govt cuts extra borrowings to Rs 20K cr in FY18
![Govt cuts extra borrowings to Rs 20K cr in FY18]()
Reviewed by Kailash
on
January 18, 2018
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