Govt to borrow Rs 8.45 trn from market during Apr-Sep period of FY23

The Union government is looking to raise Rs 8.45 lakh crore through borrowing in the first half of 2022-23 to fund the revenue gap for reviving the economy, the Finance Ministry said on Thursday.

Out of gross market borrowing of Rs 14.31 lakh crore estimated for FY2022-23, Rs 8.45 lakh crore is planned to be borrowed in the first half (H1), an official statement said.

As per the Budget document, the gross market borrowing through dated securities for 2022-23 is 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, it said.

The borrowing is scheduled to be completed in 26 weekly tranches of Rs 32,000-33,000 crore, it said.

It further said, the borrowing will be spread under 2, 5, 7, 10, 14, 30 and 40 year securities and Floating Rate Bonds of various tenors.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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