Active Stocks
Mon Mar 18 2024 15:55:53
  1. Tata Steel share price
  2. 149.60 5.69%
  1. Tata Motors share price
  2. 972.20 2.75%
  1. ITC share price
  2. 417.40 -0.51%
  1. State Bank Of India share price
  2. 730.70 -0.18%
  1. ICICI Bank share price
  2. 1,082.00 0.32%
Business News/ Market / Stock-market-news/  Govt set to announce lower borrowing programme next week
BackBack

Govt set to announce lower borrowing programme next week

Bond market borrowing programme for October to March likely to be lower than expected

The Sensex and the Nifty plunged over 2% on Friday. Photo: Hemant Mishra/MintPremium
The Sensex and the Nifty plunged over 2% on Friday. Photo: Hemant Mishra/Mint

Mumbai/New Delhi: The government next week plans to announce lower than expected borrowing needs for the second half of the fiscal year ending in March, said four people briefed on the matter, in a move that could remove some nervousness in the bond market.

Senior Indian government officials met with a select group of market participants earlier this week and assured them that the bond market borrowing programme for October to March would be lower than expected, said the sources directly aware of the matter, who asked not to be named as the discussions were private.

The meeting was called to get feedback on the current volatility in bond and currency markets, as well as assure the market players about the government’s intention to stick to its fiscal deficit and borrowing targets, the sources said.

“It was very clearly communicated that the government is sensitive to market apprehensions and will steer away from any negative or populist steps," said one official. “There won’t be any rise in the borrowing program, there can only be a reduction if any," he said.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 21 Sep 2018, 03:01 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App