Correct Answer :   ₹ 8.88 Trillion

The central government has decided to make a gross market borrowing of ₹8.88 trillion in the first half of FY24, accounting for 57.55% of the overall market borrowings planned for the year, finance ministry said on Wednesday.

* The borrowing programme is finalised in consultation with the RBI, the ministry said. The Centre has budgeted a gross market borrowing of ₹15.43 trillion in FY 2024.

* Finance minister Nirmala Sitharaman had in her budget speech for FY24 projected a fiscal deficit of ₹17.86 trillion accounting for 5.9% of the nominal gross domestic product (GDP). Centre is pursuing a target of fiscal deficit lower than 4.5% of GDP by FY26.

* The ministry said the borrowing is scheduled to be completed in 26 weekly tranches of ₹31,000-39,000 crore.

* The borrowing will be spread under securities of 3, 5, 7, 10, 14, 30 and 40 year maturity. Ten year securities account for the highest share of 20.5% among these.  

* The ministry also said that issuance of Sovereign Green Bonds will be announced in the second half (H2) of FY 2023-24.

* The Government will continue to exercise green shoe option to retain an additional subscription of up to ₹2,000 crore against each of the securities indicated in the auction notification.

* Weekly borrowing through issuance of Treasury Bills in the first quarter of FY24 is expected to be ₹32,000 crore with net borrowing of ₹1.42 trillion during the quarter, against net borrowing of ₹2.40 trillion in the comparable quarter of FY23...

Source : Mint