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.
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