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Markets expect govt to borrow Rs 80,000 cr more to bridge fiscal deficit

RBI waiting for Budget numbers has surprised the bond market

Anup Roy  |  Mumbai 

The Reserve Bank of India’s (RBI’s) decision to pause and wait for Budget numbers seems to have convinced the market that the central bank suspects the fiscal deficit numbers would be breached by some margin and there would be extra borrowing. The fiscal deficit can go to 3.6-3.7 per cent of gross domestic product (GDP), and not 3.3 per cent as budgeted, given the current conditions.

The extra borrowing could be in the range of Rs 50,000-80,000 crore to bridge this deficit, the market expects. Even as the short-term money market rates have fully reflected the ...

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First Published: Fri, December 06 2019. 22:14 IST
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