Govt to Borrow ₹6.77 Lakh Cr in Oct-Mar; FY26 Borrowing Lower at ₹14.72 Lakh Cr

The central government will borrow ₹6.77 lakh crore in the second half of this fiscal, reducing the total borrowing for the current financial year by ₹10,000 crore.

In the Budget for 2025-26, the government planned a gross borrowing of ₹14.82 lakh crore. However, it has borrowed ₹5,000 crore less in the first half (April-September) and lowered the estimates for H2 (October-March) by a similar amount.

Thus, the total borrowing for the current fiscal is estimated to be lower at ₹14.72 lakh crore.

"The Government of India plans to borrow ₹6.77 lakh crore in the second half of the fiscal year 2025-26 (H2: FY 2025-26) through dated securities, including ₹10,000 crore through issuance of Sovereign Green Bonds (SGrBs)," a finance ministry statement said.

In the first half, the government had planned to borrow ₹8 lakh crore, of which it borrowed ₹7.95 lakh crore.

The gross market borrowing of ₹6.77 lakh crore will be completed through 22 weekly auctions till March 6, 2026.

Talking to reporters, Economic Affai₹Secretary Anuradha Thakur said the total gross borrowing for the year is now ₹14.72 lakh crore, a shade lower than the initial estimates.

"I would like to reemphasise that the government is committed to meeting the fiscal deficit target," Thakur said.

The government aims to bring down fiscal deficit, which is the gap between expenditure and revenue, to 4.4% of GDP in FY26 from 4.8% in FY25.