Key Points
Global funds. are snapping up Indias. ahead of the countrys addition to global debt indexes, and traders expect them to be a key pillar of demand for the near-record government borrowing in the coming fiscal year...
New Delhi will likely announce a gross borrowing of 15.2 trillion rupees ($183 billion) for the year starting April 1, marginally lower than the record 15.43 trillion rupees set for the current year, according to a median estimate in a Bloomberg poll of 21 economists...
Foreigners have plowed more than 500 billion rupees into index-eligible debt since JPMorgan Chase & Cos Septembers inclusion announcement..
The interim budget will likely point to only a marginal increase in bond supply for the coming fiscal year, Citibank economists Samiran Chakraborty and Baqar Zaidi wrote in a note..
Gross supply, including state borrowing, will likely be 25.4 trillion rupees, a marginal gain from the estimated 24.7 trillion rupees in the current year, Citi said...
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