Govt may slash borrowing from market in April amid lockdown: Report

Private placement of bonds would ensure the government gets the money it needs for its expenditure while there is no impact on the market

India may slash or even cancel its planned borrowings from the market for April, looking at its options amid a nationwide lockdown prompted by the coronavirus outbreak, two finance ministry sources told Reuters.

The travel curbs have disrupted routine bond market trading and volumes and prompted primary dealers, underwriters to bond issuances, to seek finance ministry intervention.

"We are looking at various options. Market borrowing is challenging in the current environment," a senior finance ministry official said.
 

"So we are considering options of selling these bonds to LIC