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Budget 2018: India cuts extra market borrowing needs by 60% to $3.1 billion

The news sent benchmark 10-year bond yields down over 15 basis points

Reuters 

Budget 2018
Rupee

India has cut its additional requirement by more than half for the financial year ending in March to Rs 200 billion ($3.13 billion), Economics Affairs Secretary S C Garg said on Twitter.

The news sent benchmark 10-year bond yields down over 15 basis points.

Last month, the finance ministry had said that the government is likely to borrow additional Rs 500 billion ($7.79 billion) in 2017/18 fiscal year that ends in March.

First Published: Wed, January 17 2018. 10:32 IST
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