Centre plans to borrow 59% of FY23 debt target in April-September

Estimated at Rs 8.45 trn; full-year borrowing likely at Rs 14.31 trn

The central government plans to borrow Rs 8.45 trillion from the bond markets in the first half (April-September) of FY2022-23 to fund the revenue gap for reviving the economy, the finance ministry said on Thursday. This will be around 59 per cent of the lowered full-year gross borrowing target of Rs 14.31 trillion.

“The borrowing is scheduled to be completed in 26 weekly tranches of Rs 32,000-33,000 crore. The borrowing will be spread under 2, 5, 7, 10, 14, 30 and 40-year securities (G-secs) and floating-rate bonds of various tenors,” the ministry said.

At 59 per cent of the full-year target, the