Govt bank borrowing hits new high, surges to Rs3.214tr in 6MFY24

By MG News | January 05, 2024 at 03:34 PM GMT+05:00

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January 05, 2024 (MLN): Government borrowings from banks have surged to a new peak, amounting to Rs3.214 trillion during the first six months of the current fiscal year (FY24), as opposed to Rs1.019tr recorded during the corresponding period last year.

It is crucial to note that the government’s borrowing through this mode stood at Rs3.639tr in FY23. Alarmingly, within just the first six months of the current fiscal year, it has crossed the Rs3 trillion mark.

Moreover, in FY22 borrowing through banks was reported at around Rs3.324tr.

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