Off-budget borrowings Current Affairs, GK & News
Off-budget borrowings are loans borrowed by public institutions under the direction of the Central Government. The government’s expenditure is met using these loans. They are not included in national fiscal deficit since the liability to pay these loans does not fall on the Union government. Thus, it is a tool used to keep the country’s fiscal deficit within the set limit. It is criticised for being outside the purview of the Parliament.
The Government of India is all set to present the Union Budget 2021 on February 1, 2021. This year, the focus of the budget will be on off-budget borrowings so as to reduce the Fiscal Deficit. What are off-budget borrowings? The loans that are taken by any public institution and not by the Centre directly ..
Category: Economy & Banking Current Affairs