Centre to borrow Rs 11.6 lakh crore in FY'23 to meet expenses
New Delhi(PTI): The government will borrow about Rs 11.6 lakh crore from the market in 2022-23 to meet its expenditure requirement.
This is nearly Rs 2 lakh crore higher than the current year's Budget estimate of Rs 9.7 lakh crore. Total market borrowings of the government for 2022-23 are estimated at Rs 11,58,719 crore, according to the Budget document.
The Revised Estimates for the same for 2021-22 are Rs 8,75,771 crore, as against the Budget Estimates of Rs 9,67,708 crore.
Gross borrowing for the next financial year will be Rs 14,95,000 crore as against Rs 12,05,500 crore Budget Estimate (BE) for 2021-22.
However, the gross borrowing has been revised downwards by nearly Rs 2 lakh crore to Rs 10,46,500 crore for the current financial year.
Gross borrowing includes repayment of past loans. The government raises money from the market to fund its fiscal deficit through dated securities and treasury bills.
Government raises its market loans under the Scheme of Sale of Dated Government Securities. These auctions are conducted by the Reserve Bank of India (RBI), as debt manager to the central government.
Besides, the government has completed the conversion of special securities issued in lieu of adhoc treasury bills into marketable securities during 2003-04.
The Government of India has also completed the conversion of Recapitalisation Bonds with nationalised banks into SLR (statutory liquidity ratio) marketable securities during 2007-08.
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Thumbay Group begins work on Sharjah’s first private integrated psychiatric, rehabilitation hospital
Sharjah: Thumbay Group has laid the foundation stone for the Thumbay Psychiatric and Rehabilitation Hospital at Sharjah Healthcare City, a 120-bed facility that the company says will be the region’s first private, fully integrated hospital dedicated to psychiatric care, neuro-rehabilitation and addiction recovery.
The groundbreaking ceremony was led by Dr. Abdelaziz Saeed Al Mheiri, who is also a member of the Sharjah Executive Council, in the presence of Dr. Thumbay Moideen.
Spread across 110,000 square feet, the hospital is being developed to address growing demand for specialised mental health and rehabilitation services in the UAE and the wider Gulf region.
The facility will include inpatient and outpatient services in psychiatry, neuro-rehabilitation, addiction treatment, child and adolescent mental health, and care for mood and anxiety disorders. It will also feature VIP inpatient villas designed to provide privacy and support long-term recovery.
A mosque, named the Thumbay Masjid, will be constructed within the campus and will be open to the public.
The hospital is being designed to meet standards for Commission on Accreditation of Rehabilitation Facilities (CARF), an internationally recognised accreditation system for rehabilitation facilities.
Speaking at the event, Dr. Abdelaziz Saeed Al Mheiri said the project reflects Sharjah’s commitment to strengthening healthcare infrastructure in all aspects of wellbeing.
“Mental health and rehabilitation have long needed dedicated infrastructure, and we are proud to support a private partner whose vision matches the ambition of this Emirate,” he said.
Dr. Thumbay Moideen said the project was a response to a growing need for specialised mental healthcare services in the region.
“We have spent over three decades building healthcare in this region, and the one conversation that has grown louder every year is mental health. Families have been carrying this quietly for too long. This hospital is our answer. It is purpose-built, not retrofitted, and it has been designed around dignity, recovery, and outcomes that families can trust,” he said.
Construction is scheduled to begin in June 2026, and the hospital is expected to become operational by mid-2027.
Once completed, the facility will become part of Thumbay Group’s network of healthcare, education and diagnostic institutions across the UAE.
