Govt to raise Rs 50,000 cr via G-secs; fiscal deficit target to be breached

The central government is learnt to be planning to borrow an additional amount of Rs 50,000 cr from the bond market, over and above the budget estimate of Rs 5.80 lakh crore for fiscal year 2017-18

The central government is set to borrow Rs 50,000 crore extra through long-term securities from the markets, over and above the budget estimate of Rs 5.80 lakh crore for fiscal year 2017-18. This means it will now breach its fiscal deficit target for the year of 3.2 per cent of gross domestic product. All other things being equal, fiscal deficit for the year could be 3.5 per cent of GDP.
 
A top government official confirmed that the Centre was set to borrow more, in the light of lower than expected revenue proceeds from the goods and service tax (GST)