Govt plans to borrow Rs 8 lakh cr from market in first half of FY26

New Delhi: The Centre is planning to mobilise Rs 8 lakh crore through dated securities during the April-September period of 2025-26 to fund the revenue gap, the finance ministry said on Thursday.

Out of the gross market borrowing of Rs 14.82 lakh crore estimated for 2025-26, Rs 8 lakh crore or 54 per cent is planned to be borrowed in the first half (H1) through the issuance of dated securities, including Rs 10,000 crore of Sovereign Green Bonds (SGrBs), according to an official statement.

Finance Minister Nirmala Sitharaman, in the Budget, proposed to borrow Rs 14.82 lakh crore by issuing dated securities to meet revenue shortfall in the next financial year.

The fiscal deficit is estimated to be 4.4 per cent of GDP for FY26 compared to 4.8 per cent of the GDP estimated for the current financial year.

In absolute terms, the fiscal deficit is pegged at Rs 15,68,936 crore for 2025-26.

To finance the fiscal deficit, the net market borrowings from dated securities are estimated at Rs 11.54 lakh crore. The balance financing is expected to come from small savings and other sources.

"Coming to 2025-26, the total receipts other than borrowings and the total expenditure are estimated at Rs 34.96 lakh crore and Rs 50.65 lakh crore, respectively. The net tax receipts are estimated at Rs 28.37 lakh crore," Sitharaman had said in her Budget speech.