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Informist, Saturday, Feb. 1, 2025

--BUDGET: FY26 borrowing from small savings seen at INR 3.43 tln 

--BUDGET: FY25 borrowing from small savings lowered to INR 4.12 tln 

MUMBAI – The government aims to borrow INR 3.43 trillion on a net basis from the National Small Savings Fund in 2025-26 (Apr-Mar) to part fund its fiscal deficit, down 16.6% from a revised INR 4.12 trillion in the current financial year. The borrowing from small savings will account for 21.9% of the government's projected fiscal deficit of INR 15.69 trillion in the next fiscal year.

According to the revised estimate, net borrowing from small savings had accounted for 26.2% of the fiscal deficit for FY25. The Budget FY25 had originally estimated the borrowing from small savings at INR 4.20 trillion.

The net collections in the government-run small savings schemes are likely to fall around 4.6% to INR 3.06 trillion in FY26 from the revised estimate of INR 3.20 trillion for the current year. The government had earlier pegged the net collections in the schemes in FY25 at INR 3.88 trillion. 

The following are key details of borrowing from and collections of the National Small Savings Fund, in INR billion:

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Reported by Krity Ambey and Ashna Mariam George 

Edited by Saji George Titus

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