The revised estimate for net tax revenue receipt in the current fiscal year, after devolution to states, will be at about the same level as the budget estimate, considering the likely shortfall in excise duty collections.
The Indian government plans to borrow ₹6.55 lakh crore in the second half of the financial year, remaining on track with its budget estimate. The borrowing will include a new 50-year security for the first time, and ₹20,000 crore will be raised through sovereign green bonds. Analysts believe this adherence to borrowing plans demonstrates fiscal prudence and should calm market nerves.
