20-April-2024
Economy News
 
India likely to fund some $28 billion of 2020/21 expenditure via off-budget borrowings: Sources
25-Jan-2020

India is likely to fund roughly $28 billion of its expenditure outlay in its budget for fiscal 2020/21 via off-budget borrowings, three government sources said, as it seeks to revive a sagging economy while keeping its fiscal deficit in check. Prime Minister Narendra Modi's government is under pressure to increase spending on rural welfare schemes and infrastructure to boost growth that has fallen for six straight quarters. Off-budget borrowings are a means by which the government keeps its fiscal deficit in check by making quasi-government entities borrow on its behalf, to partly fund its expenditure plan for the year.

News Source:- https://economictimes.indiatimes.com/news/economy/policy/india-likely-to-fund-some-28-billion-of-2020/21-expenditure-via-off-budget-borrowings-sources/articleshow/73562904.cms