GoI to borrow Rs 5.92 lakh crore in second half of fiscal year 2022-23

Reserve Bank of India headquarter. [File Photo]

New Delhi: The Government of India (GoI) on Thursday cut its market borrowing target for the current fiscal by Rs 10,000 crore in signs of buoyant tax collections.

“GoI will do total borrowing of Rs 5.92 lakh crore during October-March period of the current fiscal, including from issuance of its maiden Sovereign Green Bonds of Rs 16,000 crore,” PTI reported quoting an official statement of the Finance Ministry of India.

The GoI had in Budget for 2022-23 projected a gross market borrowing of Rs 14.31 lakh crore. Of this, the government decided to borrow Rs 14.21 lakh crore during 2022-23.

“Accordingly, the balance amount of Rs 5.92 lakh crore (41.7 percent of Rs 14.21 lakh crore) is planned to be borrowed in the second half of the fiscal year 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,” it said.

The report said GoI will continue to exercise the greenshoe options 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 percent of the gross issuance for the second half and within the gross borrowing limit for 2022-23. The gross direct tax collections till September 17 grew 30 percent to over Rs 8.36 lakh crore, the statement added.


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