FM Pegs Gross Market Borrowing For FY22 At Rs 12 Lakh Crore

The Finance Minister has stated in the budget that the gross market borrowing target is at Rs 12 lakh crore for FY22. We will approach the market for additional Rs 80,000 crore to fund FY21 fiscal deficit, the FM stated. We hope to get back on the fiscal consolidation path by FY26, she added. The FM has pegged the FY21 fiscal deficit at 9.5% of GDP. Further, the FY22 fiscal deficit has been pegged at 6.8% of GDP.

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