Home >Politics >Policy >Govt set to borrow 4.42 trillion in first half of 2019-20
India's gross borrowing for FY19 stood at  ₹5.71 trillion. (Mint)
India's gross borrowing for FY19 stood at 5.71 trillion. (Mint)

Govt set to borrow 4.42 trillion in first half of 2019-20

  • The govt envisages gross market borrowing of 7.1 trillion in 2019-20 (FY20) and net market borrowing of 2.73 crore
  • The govt borrowing target for FY20 is the highest in at least nine years. India's gross borrowing for FY19 stood at 5.71 trillion

New Delhi: India plans to borrow 4.42 trillion ($63.92 billion) in the first half of fiscal year 2019-20 (FY20) that begins 1 April, the government said on Friday. In the interim budget unveiled on 1 February, the government said it envisaged gross market borrowing of 7.1 trillion in 2019-20 and net market borrowing of 4.73 trillion.

India's FY20 planned gross borrowing is the highest in at least nine years as Prime Minister Narendra Modi poured extra money into support for farmers and a tax cut for low-income workers as his government looks to rally support from voters with the final budget before general elections start in April.

India's gross borrowing for FY19 stood at 5.71 trillion.

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