India Poised to Exceed $163 Billion Borrowing Target

India is set to exceed its annual borrowing target after the world’s biggest lockdown decimated the government’s revenue collection goals, people with knowledge of the matter said.

Officials from the finance ministry and the Reserve Bank of India will meet later this month to decide on the amount of borrowings needed beyond the targeted 12 trillion rupees ($163 billion) in the year ending March 31, the people said, asking not to be identified as the discussions were private. Policy makers will also deliberate on options to raise funds including selling debt directly to the central bank, the people said.