Indian Bonds Reverse Gains as Borrowing Plan Disappoints Market
- Borrowing plan slightly reduced to $168 billion from February
- Yield on 10-year government bond little changed at 6.97%
Nirmala Sitharaman departs to present the budget at parliament in New Delhi, on July 23.
Photographer: Prakash Singh/BloombergThis article is for subscribers only.
Indian bonds reversed gains after the government disappointed traders expecting a bigger cut in debt sales.
The administration plans to borrow 14.01 trillion rupees ($168 billion) in the fiscal year ending March 2025, Finance Minister Nirmala Sitharaman said Tuesday. That’s slightly lower than 14.1 trillion rupees estimated in a Bloomberg survey and proposed in the interim budget in February.