India’s Borrowings May Rise in Next Fiscal Year, Official Says

India’s bond sales are likely to surge in the next fiscal year on account of higher debt repayments, according to a government official.

Sales in the fiscal year starting April 1, 2025, are likely to be higher on redemption of debt issued during the Covid years, the official, who declined to be identified, told reporters. The administration is likely to keep borrowing unchanged for the remainder of the current fiscal year as the spending is likely to pick up, the official said.