Tribune News Service
New Delhi, September 30
The Centre has decided not to borrow more and instead keep its borrowing for the current fiscal at the earlier decided Rs 12 lakh crore.
“Revenues are looking up and we had borrowed heavily in the first half of the year. This will suffice,” Department of Economic Affairs Secretary Tarun Bajaj said today.
However, the ways and means limit of Rs 2 lakh crore for states after May is being reduced to Rs 1.25 lakh crore in consultation with RBI. As the Centre will end its borrowing programme by January 29, it will keep the next two months open for borrowing on behalf of states and corporates, he said.
The government had originally planned to borrow Rs 7.8 lakh crore. After the Covid hit the country, the government decided to raise its borrowing to Rs 12 lakh crore. Having already borrowed Rs 7.66 lakh crore, the government will borrow the remaining Rs 4.34 lakh crore in the remaining next six months and not revise its plans upwards, said Bajaj.