 "Rupee, Indian rupee")
The Centre is planning to raise Rs 7.5 trillion through market borrowing in the April-September period of 2024-25 to fund the revenue gap to push economic growth, the finance ministry said on Wednesday.
Out of gross market borrowing of Rs 14.13 trillion estimated for 2024-25, Rs 7.5 trillion, or 53 per cent, is planned to be borrowed in the first half (H1), an official statement said.
Finance Minister Nirmala Sitharaman in interim Budget proposed to borrow Rs 14.13 trillion by issuing dated securities to meet revenue shortfall in the next financial year.
This is lower than last year's gross borrowing estimate of Rs 15.43 trillion, which was the highest ever.
"The gross and net market borrowings through dated securities during 2024-25 are estimated at Rs 14.13 trillion and Rs 11.75 trillion, respectively.
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"Both will be less than that in 2023-24. Now that private investments are happening at scale, the lower borrowings by the central government will facilitate larger availability of credit for the private sector," she had said.
There are signs of private investment picking up in the steel and cement sector due to massive capital expenditure by the government.
Against the estimate of Rs 10 trillion for 2023-24, the government has earmarked Rs 11.11 trillion during the next year.
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