Cowid brought the economy to a standstill, and the government couldn't earn as much as it would have liked. There was no other choice - they had to borrow money. The r b i only recently cancelled a bond auction, citing that the government has enough money lying in its accounts for now. They've also been injecting money into the banking system using dark methods only available to central banks.
In today’s episode for 10th February 2022, we see why home loans are quoting at their lowest rates in 20 years while the government continues to borrow at a much higher rate