There are no plans of any additional borrowing by GovernmentNew Delhi: Government is not planning any additional borrowing and will stick to the borrowing target fixed for the current fiscal year, a government source said on Wednesday.The Government lost Rs 1 lakh crore in revenue after it cut excise duty cut on petrol and diesel to temper inflation. This revenue dent was seen to be filled by additional borrowings.But a government source said no extra borrowings is being planned as yet. This information has come amid a Reuters report that the Centre is planning to spend an additional Rs 2 lakh crores ($26 billion) in the current fiscal to safeguard consumers from rising prices and fight multi-year high inflation.On May 21, Finance Minister Nirmala Sitharaman had announced excise duty cuts on petrol and diesel, which could hit the government revenues by Rs 1 lakh crore. India is already reeling under sky-high inflation and with excise duty cut on fuel prices, the Government is under a tight situation financially.Retail inflation soared to an eight-year high in April, while wholesale inflation rose to at least a 17-year high.
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