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Opposition charge on unchecked rise in off-budget borrowings misleading, says official : Rashtra News #Opposition #charge #unchecked #rise #offbudget #borrowings #misleading #official In fact, they had increased by more than 4.5 times during 2014-19, says Duvvuri Krishna In fact, they had increased by more than 4.5 times during 2014-19, says Duvvuri Krishna The off-budget borrowings

Chief minister Siddaramaiah has been tight-fisted in terms of spending loans which has led to a reduction in debt, but while his decision to borrow funds was severely criticised, he is now being accused of depriving the state of funds for development.

After its last auction in the primary market on January 19, the outstanding amount on a bond maturing in 2063, has risen to ₹2.04 lakh crore, Reserve Bank of India (RBI) data showed. The outstanding amount refers to the amount the government has borrowed by issuing a bond.

The government plans to reduce gross borrowing to Rs 15.3 lakh crore in FY25, targeting a fiscal deficit of 5.5% of GDP. SBI researchers believe that net market borrowing will be around Rs 11.7 lakh crore, resulting in gross borrowings of Rs 15.3 lakh crore after repayments. Adjustments and switches may lower the borrowing to less than Rs 15 lakh crore.

If the government plans to bring the fiscal deficit down to 4.5% of GDP by 2025-26, it may have to normalize its ambitious capital expenditure plans