THE UNION GOVERNMENT on Tuesday decided to stick to its gross market borrowing target of ₹6.55 trillion for the second half of the current fiscal.
Responding to market demand for longer-duration securities, a 50-year security will be issued for the first time, the government said, unveiling the second-half borrowing calender.
The new variant of G-sec will be tapped to mop up ₹30,000 crore. An amount of ₹20,000 crore will be raised via sovereign green bonds, compared with ₹16,000 crore last year.
There were expectations that the Centre might lower its market borrowings in H2FY24 and rely more on a burgeoning small savings kitty to finance the budgeted fiscal deficit. Analysts said the government might have chosen to tread cautiously at this juncture, as there is an element of uncertainty about both revenue & expenditure vis-a-vis the Budget Estimates for the fiscal year.
This story is from the September 27, 2023 edition of Financial Express Mumbai.
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This story is from the September 27, 2023 edition of Financial Express Mumbai.
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