In order to raise an additional Rs 80,000 crore, the government would approach the markets, and this would happen over the next two months, the finance minister said in her Budget speech.
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Finance Minister Nirmala Sitharaman said the FY21 fiscal deficit has been pegged at 9.5 percent of the Gross Domestic Product (GDP).
In her Budget speech, the finance minister said that in order to raise an additional Rs 80,000 crore, the government would approach the markets.
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This would happen over the next two months, Sitharaman said.
The Centre is targeting a fiscal deficit of 6.8 percent of gross domestic product (GDP) for FY22, which will gradually come down to below 4.5 percent by FY26. This will require amendments to the Fiscal Responsibility and Budget Management Act.
As a result of the expanded budget, the Centre needs to borrow Rs 12 lakh crore in FY22.