India has no plans to borrow more this fiscal year and will keep its budget deficit target despite a potential negative shock to the nation’s finances from oil prices and delay in the biggest share sale, according to people familiar with the development.
The government’s market borrowings for the fiscal are over and there is no plan to borrow against the auctions that were canceled last month, the people said asking not to be identified as the discussions are private.
India had canceled two previous auctions citing its comfortable cash position as bond yields surged after the government unveiled a

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