Centre likely to borrow record Rs 16 lakh crore in fiscal 2023/24

The federal government's gross indebtedness has more than doubled in the past four years as Prime Minister Narendra Modi's government has spent heavily to cushion the economy from the effects of the COVID-19 pandemic and to provide relief to the poor. The February 1 budget will be the last full-fledged one before national elections in 2024 and before elections in several large populous states that will be key tests for the ruling BJP

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