 "Govt says FY14 gross borrowing will be at Rs 5.79 lakh cr")
New Delhi: The government today said it has pegged its gross borrowing for 2013-14 at Rs 5.79 lakh crore. “The gross market borrowing of the Central Government through issue of dated securities in 2013-14 is estimated to be Rs 5,79,000 crore,” an official statement said.
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The net borrowing for next fiscal year will be at Rs 4,84,000 crore. Reuters[/caption]
The net borrowing for next fiscal year will be at Rs 4,84,000 crore, about Rs 17,000 crore higher than the revised estimates of the current fiscal, it added. During 2012-13, the government borrowed Rs 4,67,384.06 crore from the market.
The higher government borrowings could have a negative impact for the private sector. This is because government borrowings next fiscal would crowd out resources available for the private sector, more than it did in 2012-13.
However, despite market borrowing going up, the fiscal deficit for the next financial year has been pegged at 4.8 percent, against 5.2 percent estimated for 2012-13.
PTI