Government Lowers Borrowing Target For FY23

30 Sep 2022 , 09:23 AM

The Government of India, in consultation with the Reserve Bank of India, has finalized its borrowing programme for the second half (H2) of FY 2022-23. Out of the Gross Market borrowing of Rs 14.31 lakh crore projected for FY 2022-23, the Government of India has decided to borrow RS 14.21 lakh crore during the FY 2022-23. Accordingly, the balance amount of Rs 5.92 lakh crore (41.7% of &8377;14.21 lakh crore) is planned to be borrowed in the second half of the fiscal year 2022-23 (H2: FY 2022-23) through dated securities, including Rs 16,000 crore through issuance of Sovereign Green Bonds (SGrBs) as per the announcement made in the Union Budget 2022-23. The gross market borrowing of Rs5.76 lakh crore (40.5%) shall be completed through 20 weekly auctions. Government will continue to exercise greenshoe option to retain an additional subscription of up to Rs 2,000 crore against each of the securities indicated in the auction notification. The amount raised through this option will be limited to 3 to 5 per cent of the gross issuance for H2: FY 2022-23 and within the gross borrowing limit for the FY 2022-23. Powered by Capital Market – Live News