Archive · 22 Sep 2025
Government Borrowing for October-March Unlikely to Change
The Indian government is deciding how much money it needs to borrow for the second half of the fiscal year, starting in October.
Government officials and the RBI will meet to decide.
They expect to borrow about ₹6.82 lakh crore, which is the amount planned in the budget.
Tax collections are growing slower than expected, which might impact the final borrowing numbers.
Some experts suggest the government may borrow less than initially planned.
The meeting will finalize these plans early next week.
Government and RBI are finalizing borrowing figures for October-March.
Expected borrowing for the second half of FY26 is ₹6.82 lakh crore.
GST rate revisions are taking place from Monday.
Direct tax collection growth is below the estimated rate.
Global firm Nomura expects the borrowing number to be retained.
- Who
- Government, RBI, Nomura
- What
- Government borrowing plans for the second half of FY26 are under review.
- When
- Second half of FY26, beginning October 1
- Where
- India
- Why
- To finalize borrowing figures amidst tax collection changes.
- Borrowing Period
- October - March
- Budgeted Gross Borrowing (FY26)
- ₹14.82 lakh crore
- H1 Borrowing (April-Sept)
- ₹8 lakh crore
- Expected H2 Borrowing
- ₹6.82 lakh crore
- GST Council Meeting Date
- September 3
- Direct Tax Collection Growth
- Over 9% (Apr 1 - Sept 17)
Sources
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