Government will borrow Rs 7.24 lakh crore ($98.95 billion) from the market in the first six months of the next financial year that starts on April 1, a finance ministry official said on Wednesday.
The borrowings in the first half of the next fiscal year will be about 60 per cent of Rs 12.05 lakh crore borrowing target for the whole fiscal year, Tarun Bajaj, economic affairs secretary at the Ministry of Finance said at a virtual briefing.
The net borrowings during the next fiscal year will be about Rs 9.37 lakh crore, the official said.
He said the government had borrowed a record Rs 13.71 lakh crore in the current fiscal year.