Market borrowings touch 57% of Budget estimates in June

New Delhi: The government's market borrowings have touched ₹2.54 trillion, which is 57% of the Budget Estimates, as of June 2019.

The budgeted market borrowing is ₹4.48 trillion for the fiscal.

On a comparison basis, the borrowing was 31% in the same time of the last fiscal, as per the Controller General of Accounts.

Government raises funds from the market to fund its fiscal deficit through dated securities and Treasury bills. The fiscal deficit for the year is 3.3%.

At the level of gross borrowings, which is ₹7.06 ltrillion, already 60% has already been taken at ₹4.25 trillion, which is lower than 68% at this time in the last fiscal.

The government plans to borrow ₹4.48 trillion from the market in 2019-20, marginally higher than the ₹4.47 trillion estimated for the current financial year ending March 2019