highlights
To cover the budget deficit, the government will borrow Rs 15.43 lakhcrore from the market.
Government borrowing for the next year has been estimated at Rs 11.8 lakh crore.
The center has Rs 4.4 lakh crore worth of bonds maturing in 2023-24.
New Delhi. Government bonds for safe and guaranteed returns when you (government bond) If you want to invest money, then this financial year you can get a great opportunity. Finance Minister Nirmala Sitharaman (FM Nirmala Sitharaman) In its budget speech in Parliament on February 1, the center will borrow a record Rs.15.43 crore from the markets to cover the budget deficit of 5.9 percent of GDP in 2023-24.
The gross credit target for next year is 3.2 per cent above this year’s budget estimate of Rs 14.95 lakh crore. However, the center’s actual borrowing for the current year will be lower by Rs. 14.21 crore as some government bonds maturing this year are swapped by the Reserve Bank of India (RBI).
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Government bonds increased
Gross borrowing program for 2023-24 is 8.6 percent higher than borrowing to be borrowed in 2022-23. On a net basis, government borrowing for next year is set at Rs. 11.8 crore against Rs. 11.19 crore in 2022-23. According to the Moneycontrol survey, the center was expected to set its gross borrowing at Rs. 15.5 crore and net borrowing at Rs. 11.7 crore for the next financial year.
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What are government bonds?
Every government or company issues bonds to raise funds. In return, the government gives investors a fixed interest rate on this amount and a full guarantee of the safety of your money. The government spends the amount received from investors in lieu of bonds on programs designed for the general public.
According to RBI data as of Jan 30, the increase in gross borrowing is partly necessitated by the fact that the center has Rs 4.4 lakh crore worth of bonds maturing in 2023-24.
This is 41 percent higher than withdrawals this year.
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Tags: household, Budget 2023, FM Nirmala Sitharaman, government bond yields, Money making tips, personal finance, Government Gold Loan
FIRST RELEASED : February 1, 2023 at 6:22 p.m. IST
