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No plan to change govt's FY23 borrowing target despite revenue hit: Source

No compromise on capex; consolidated fund to be used if needed, the source said

Photo: Brent Lewin/Bloomberg
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The Centre plans to borrow Rs 8.45 trillion from the bond markets in the first half (April-September) of FY23. Photo: Brent Lewin/Bloomberg

Arup Roychoudhury New Delhi
The central government is sticking to its gross borrowing target of Rs 14.31 trillion for the current financial year (FY23) despite revenue hit on account of reduction in excise duty on petroleum products and higher subsidy burden owing to food and fertiliser, a top government source said on Wednesday.

There is no proposal as of now to revise the medium-term inflation target; that the government will pull out money from the Consolidated Fund of India to ensure that its capital expenditure commitments are met; and that the plan to privatise some state-owned banks is very much alive and could happen this

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First Published: May 26 2022 | 1:53 AM IST

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