MUMBAI : India's central government's gross market borrowings for 2023/24 could come in below market expectations as a pool of securities raised to compensate states for a shortfall in goods and services tax may not be rolled over, a few economists said.However, there are chances of the central bank payin
MUMBAI : India's central government's gross market borrowings for 2023/24 could come in below market expectations as a pool of securities raised to compensate states for a shortfall in goods and services tax may not be rolled over, a few economists said.
ICICI Securities Primary Dealership expects net government borrowings of 12.5 trillion rupees for the next financial year. In addition, bonds worth 4 trillion rupees are set to come up for redemptions in that year. India borrowed 1.1 trillion rupees and 1.59 trillion rupees in 2020-21 and 2021-22, respectively, to lend to states and compensate for a revenue shortfall from tax collections.
"The gross G-sec issuance can be reduced further by using a combination of switches with the market and RBI," which could lower gross borrowing to 15.1 trillion rupees, IDFC First Bank economist Gaura Sen Gupta said in a note.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Indian government to borrow a record 16 trillion rupees in fiscal 2023/24 - Reuters pollBENGALURU : The Indian government will borrow a record 16 trillion rupees ($198 billion) in the fiscal year to March 2024, according to a Reuters poll of economists, who said infrastructure spending and fiscal discipline ought to be its highest budget priorities.The federal government's gross indebtednes
Read more »
This Mumbai atelier is the secret workshop of top French fashion housesFor his new collection for Paris Fashion Week, French couturier Julien Fournie worked with India's Creations By Shanagar, whose clients include Jean Paul Gaultier, Yohji Yamamoto, Donna Karan and even the movie Moulin Rouge!.
Read more »
Amazon launches air freight service in IndiaBENGALURU : Amazon.com Inc on Monday launched its own air cargo fleet in India, Amazon Air, as it seeks to expand and speed-up deliveries across one of its key markets.India is the third market, after the United States and Europe, where the company has launched Amazon Air. The Seattle-headquartered firm,
Read more »
Apple targets raising India production share to up to 25% - ministerNEW DELHI :Apple Inc wants India to account for up to 25 per cent of its production from about 5 per cent-7 per cent now, the trade minister told a conference on Monday, as the iPhone maker continues to move its manufacturing away from China.'Apple, another success story,' Piyush Goyal said, pitching India as
Read more »
Girls in India forced into prostitution after being made to ‘marry’ deityThe practice is outlawed, but it still goes on in secret, say activists. Read more at straitstimes.com.
Read more »