Economy In Crisis: Center To Borrow 12 Lakh Crore From Market, 7.8 Was In Budget

Economy in crisis. Centre had originally budgeted to borrow Rs 7.8 lakh crore from the market during the current financial year. But now government to borrow 12 lakh crore from open market. According to the government, revenues dried up in the first quarter due to the coronavirus-induced lockdown. It has already borrowed around Rs 7.7 lakh crore so far this year. “government has budgeted for a higher spending requirement and lower revenue and will disclose the details at the time of the Budget presentation in February” Said economic affairs secretary.

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