government needs to borrow in fiscal deficit explain ( short ans)
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In India, the government manages its deficit by borrowing from various sources like the Reserve Bank of India, public sector banks, large public institutions, overseas markets, capital markets, and it can raise funds from the public as well.
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It is essentially the total amount of money that the central government borrows to fund its spending on public services and benefits. As the tax and non-tax revenue fall short in financing government's spending programme, the government announces an annual borrowing programme in the Budget
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