India Maintains Borrowing as JPM Inclusion Fuels Debt Demand
- Papers maturing in 15-years or more make up 52% of borrowing
- Yields have eased over 40 basis points this year amid demand
The RBI is scheduled to meet in early October with traders expecting a pivot to a more dovish policy.
Photographer: Kanishka Sonthalia/BloombergIndia’s government maintained its borrowing plan for the remainder of this fiscal year amid robust foreign inflows spurred by global debt inclusion.
Prime Minister Narendra Modi’s administration will sell 6.61 trillion rupees ($79 billion) of bonds in the October-March period, the finance ministry said in a statement on Thursday. That’s broadly in line with the budgeted estimates as per the annual borrowing program.