India Sees Strong Revenue, Scope to Trim Borrowing Next Year

India expects revenue collections to be buoyant in the year beginning April, potentially allowing it to scale back its borrowing program, according to a senior finance ministry official.

Bond markets were spooked after the government outlined plans in Sunday’s budget to borrow 17.2 trillion rupees ($188 billion) in bonds in the next fiscal year, including about 5.5 trillion rupees of redemptions.