India's market borrowing this financial year would remain unchanged, Chief Economic Advisor V Anantha Nageswaran on Monday said.
Speaking to CNBC TV-18, he said the first-quarter growth momentum is likely to continue into July-September, with the GST reforms giving a boost to domestic demand.
The central government is planning to borrow Rs 14.82 trillion this financial year. Of that, it is scheduled to borrow Rs 6.8 trillion in October-March.
The Economic Survey has projected a growth rate in GDP between 6.3 per cent and 6.8 per cent in 2025-026. 'While I should actually be looking at revising my (GDP) numbers upward, given my cautious nature I am more comfortable now in saying that we will be tending towards the upper end of this range' When the second-quarter numbers come, we will revisit the estimates,' Dr Nageswaran said.
GDP growth had accelerated to a five-quarter high of 7.8 per cent in April-June FY26. Confident that the government would achieve the fiscal-deficit target of 4.4 per cent in FY26, Nageswaran said: 'The second-quarter numbers are encouraging.'
Records showed a reduction in GST rates had not led to a decline in GST revenues, Dr Nageswaran said.
Rising UPI (Unified Payments Interface) transactions were a good harbinger of a rise in GST revenues, he added.
-- Ruchika Chitavanshi, Business Standard
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