Budget 2018: India cuts extra market borrowing needs by 60% to $3.1 billion

Union Budget 2018
The news sent benchmark 10-year
bond yields down over 15 basis points
BUDGET NEWS : India has cut its additional market borrowing requirement by
more than half for the financial year ending in March to Rs 200 billion ($3.13
billion), Economics Affairs Secretary S C Garg said on Twitter.
The news sent benchmark 10-year bond yields down over 15 basis points.
Subhash Chandra Garg
@SecretaryDEA
Government has reassessed additional borrowing requirements taking note of
revenue receipts and expenditure pattern. Requirement of additional
borrowing being reduced from Rs 50000 crore as notified earlier to Rs 20000
crore.
Last month, the finance ministry had said that the government is likely to
borrow additional Rs 500 billion ($7.79 billion) in 2017/18 fiscal year that ends
in March.
CLICK HERE TO READ MORE : BUDGET 2018-19

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