Govt has no plan for additional borrowing to manage fiscal deficit: Sources

Updated: few hours ago

New Delhi, May 25 (PTI) The government is not planning any additional borrowing and will stick to the borrowing target fixed for the current fiscal year despite sacrificing revenue on account of reduction in duties on petroleum products and other goods, official sources said on Wednesday.

In order to contain rising inflation, the government last week reduced excise duty on petrol by a record Rs 8 per litre and that on diesel by Rs 6 to give relief to consumers reeling under high fuel prices that have also pushed inflation to a multi-year high.

Besides, it also provided Rs 200 per cylinder subsidy on LPG to about 9 crore beneficiaries of the Pradhan Mantri Ujjwala Yojana.