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May Borrow Over Rs. 2 lakh cr. Target if Needed: Union Government
October 03, 2017
The government said that its gross borrowing target will remain to be Rs. 2.08 lakh crore i.e. 36% of the full-year target for the second half of the current financial year, with the majority of borrowing “front-loaded” between October and January. However, it’s not completely ruling out the possibility of additional borrowing during the final quarter of the FY if the need arose, Subhash Chandra Garg, economic affairs secretary said.
Garg said that any need for additional borrowings will arise only after the government has placed supplementary demands by the end of the next quarter. For now, however, the government is maintaining the fiscal deficit target of 3.2% of the GDP.
