Owing to higher government borrowing in FY21 to mitigate impact of Corona crisis, fiscal deficit for FY21 surged to 9.5% of GDP as per revised estimation. For next fiscal year it has been pegged at 6.8% of GDP.
During Feb & March of current fiscal year Union Government has decided to borrow extra Rs 800 billion. This will make gross borrowing at Rs 13900 billion for current fiscal year. Net borrowing stood at Rs 12737.88 billion for FY21.
For next fiscal year, gross borrowing has been estimated at Rs 12000 billion while net borrowing pegged at Rs 9317.21 billion.
Rs bn | Budget Nos | FY20BE | % change over FY19RE | FY20RE | % of FY20 BE | FY21BE | % change over FY20RE | FY21RE | % change of FY21 BE | FY22BE | % change over FY21RE |
Fiscal Deficit | Gross Fiscal Deficit | 7037.60 | 10.93% | 7668.46 | 8.96% | 7963.37 | 3.85% | 18486.55 | 132.14% | 15068.12 | -18.49% |
- | Nominal GDP | 211006.07 | 12.00% | 204422.33 | -3.12% | 224894.20 | 10.01% | 195836.592 | -12.92% | 223645.388 | 14.20% |
- | Nominal GDP Growth (%) | 11.00% | - | 7.50% | -31.82% | 10.00% | 33.33% | -4.20% | -142.00% | 14.40% | - |
- | Fiscal Deficit % of GDP | 3.30 | - | 3.80 | 15.15% | 3.50 | -7.89% | 9.500 | 171.43% | 6.800 | -28.42% |
- | Government Borrowing Net | 4731.22 | 11.92% | 4739.72 | 0.18% | 5448.69 | 14.96% | 12737.88 | 133.78% | 9317.22 | -26.85% |
- | Government Borrowing Gross | 7100.00 | 24.34% | 7100.00 | 0.00% | 7800.00 | 9.86% | 13900.00 | 78.21% | 12000 | -13.67% |
- | Government Net Borrowing % of Fiscal Deficit | 67.23% | 0.89% | 61.81% | -8.06% | 69.86% | 13.02% | 68.90% | -1.36% | 77.64% | 12.68% |
- | Repayment | 2368.00 | - | 2360.27 | -0.33% | 2351.30 | -0.38% | - | - | 2682.78 |
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- | G-sec buyback | 500.00 | - | - | - | 300.00 | - |
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- | G-sec switches | 500.00 | - | 1650.00 | 230.00% | 2700.00 | 63.64% |
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- | Government Borrowing Gross including buybacks | 7600.00 | - | 7100.00 | -6.58% | 8100.00 | 14.08% |
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