India's Finance Minister Nirmala Sitharaman announced the government will raise Rs 14.13 lakh crore from the market through dated securities in the upcoming fiscal year.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Feb 1 (PTI) The government will raise Rs 14.13 lakh crore from the market by issuing dated securities in 2024-25, Finance Minister Nirmala Sitharaman said on Thursday.
Presenting the interim Budget 2024-25, Sitharaman said GST has reduced the compliance burden, and the average monthly GST collection doubled to Rs 1.66 lakh crore.
The government resorts to market borrowings to bridge the gap between expenditure and revenue (fiscal deficit).
The government mobilised a gross amount of Rs 5.77 lakh crore by issuing dated securities in the current financial year up to July 31, 2023.
Government borrowing is done through various sources, including dated securities, treasury bills, external loans and state provident funds.
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