India’s Record Borrowing Plan Drives Yields to One-Year High

India’s benchmark bond yields climbed to the highest in more than a year after the government unveiled a record debt-sale plan that exceeded analysts’ expectations.

New Delhi will borrow 17.2 trillion rupees ($187 billion) in the year starting April 1, Finance Minister Nirmala Sitharaman announced in her budget speech on Sunday. That’s 18% higher than the current year and exceeds the 16.5 trillion rupees forecast in a Bloomberg News survey.