Comments
The government announced a lower-than-expected bond sales program for the next fiscal year, as the nation prepares for big foreign inflows on global index inclusion. Bonds rallied.
The administration aims to borrow ₹14.13 trillion ($170 billion) in the fiscal year starting April 1, Finance Minister Nirmala Sitharaman said in her budget speech on Thursday. That’s lower than the ₹15.2 trillion estimated in a Bloomberg survey.
The net borrowings, adjusted for maturities, are planned at ₹11.75 trillion for the next fiscal year. The yield on the benchmark 10-year bond fell as much as nine basis points to 7.05 per cent after the announcement.
More stories like this are available on bloomberg.com
©2024 Bloomberg L.P.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.