Centre to borrow Rs 11.6 lakh crore in FY'23 to meet expenditure requirement

Representative image. Credit: iStock Photo

The government will borrow about Rs 11.6 lakh crore from the market in 2022-23 to meet its expenditure requirement.

This is nearly Rs 2 lakh crore higher than the current year's Budget estimate of Rs 9.7 lakh crore.

Also read: Key takeaways from FM Nirmala Sitharaman's Union Budget speech

Total market borrowings of the government for 2022-23 are estimated to stand at Rs 11,58,719 crore, according to the Budget document.

The Revised Estimates for the same for 2021-22 are Rs 8,75,771 crore, as against the Budget Estimates of Rs 9,67,708 crore.

Gross borrowing includes repayment of past loans. The government raises money from the market to fund its fiscal deficit through dated securities and treasury bills.

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