ALSO READPre-Budget consultations: States ask for increased borrowing caps I'll consider states' opinions while formulating budget policies: Jaitley Jaitley to meet state FMs today for Budget talks Jaitley hints at reform-packed Budget, pruning of expenditure Arun Jaitley's Union Budget 2015: Key Highlights
The government will borrow Rs 6 lakh crore from the market in 2015-16 fiscal, up from Rs 5.92 lakh crore in the current fiscal.
The budgeted target for borrowing in current fiscal was Rs 6 lakh crore, but the government will raise only Rs 5.92 lakh crore from the markets.
Read our full coverage on Union Budget
However, the net borrowings in 2015-16 will be Rs 4.56 lakh crore, after considering repayments of past loans and interests.
It was Rs 4.53 lakh crore in current fiscal.
The government borrows from the markets through T-bills and other instruments to fund the fiscal deficit.
In the financial year ending March, the fiscal deficit has been estimated at 4.1%.
In 2015-16, the deficit will be pruned to 3.9%.