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    • Understand the math behind government's FY27 borrowing numbers

      The Centre has pegged net market borrowing at Rs 11.7 lakh crore for FY27, around Rs 50,000 crore higher than FY26, reflecting a calibrated increase to support higher capital spending. Gross market borrowing, however, has been set at Rs 17.2 lakh crore, a sharp jump from the current year. This increase is largely explained by the maturity profile of government securities, with redemptions in FY27 estimated at Rs 5.47 lakh crore.

    • Budget 2026| Centre peg gross borrowing via bonds at Rs 17.2 lakh crore for FY27

      Government borrowings are among the most important determinants of interest rates in the economy. Higher-than-expected borrowings can push up rates for all bond issuers — sovereign and corporate — while interest rates can decline if it tightens its belt and borrows less than anticipated.

    • FY27 govt borrowing pegged at Rs 15-17 lakh crore as debt focus gains prominence

      Estimates for green bond issuance, which is unlikely to see an increase, range from Rs 20,000-25,000 crore, or around 5 percent of total borrowing, a Monyecontrol poll has found

    • A fix for fixed income lies with the government or RBI?

      A tight fiscal policy and an accommodative monetary policy is the best outcome for bonds

    • Bond Strategy Reset: Ditch ultra-long issuance

      The spreads beyond 10-year bond yield have widened and the curve has steepened

    • Higher gross market borrowing may lead to increase G-sec yield

      In union Budget 2025, gross market borrowing numbers announced by the government was around 6 percent higher for next financial year, as compared to current fiscal year.

    • Higher redemptions of bonds in FY26 leads to around 6% rise in gross government borrowing

      In the first half of current financial year, the Centre has borrowed nearly Rs 7 lakh crore and plans to borrow Rs 6.61 lakh crore in the second half.

    • Budget 2025: Government may announce Rs 14-15 lakh crore market borrowings via bonds

      In July, 2024, Finance Minister Nirmala Sitharaman announced the gross borrowing target from the markets in 2024-25 of Rs 14.01 lakh crore to finance its fiscal deficit of 4.9 percent of the GDP.

    • India’s short-term borrowing costs dip to lowest since 2022

      The yield on the 364-day treasury bill dipped to 6.7240% in an auction on Wednesday, the least since September 2022. The yield on other very short-dated papers also dipped.

    • In 8 charts: Govt's interest cost share in GDP beats capex outlay share in FY24; what's driving this surge?

      The share of interest payments to GDP was 3.6 percent, while the share of the capex outlay was 3.2 percent in FY24, according to a Crisil report, on rising interest expenses.

    • Indian bond yields may soften post marginal cut in gross govt borrowing, fiscal deficit

      Finance Minister Nirmala Sitharaman in a speech presenting the full Budget for 2024-25, said the Centre marginally cut the gross borrowing target from the markets in 2024-25 to Rs 14.01 lakh crore to finance its fiscal deficit of 4.9 percent of the GDP.

    • Govt unlikely to change borrowing numbers in upcoming Budget despite record RBI dividend: Experts

      In the interim budget on February 1, the central government said it would borrow Rs 14.13 lakh crore from the markets in 2024-25 in gross terms to finance its fiscal deficit of 5.1 percent of the GDP.

    • Centre to borrow Rs 7.5 lakh crore via dated securities in H1FY25

      In April-September, the size of the weekly government bond auctions will range from Rs 22,000 crore to Rs 38,000 crore.

    • Interim Budget brings cheer to bond markets

      The RBI will leverage on the fiscal restraint shown by the central government and is likely to deliver rate cuts in the second half of FY25

    • Interim Budget 2024: Market borrowing likely to remain in the Rs 15-16 lakh crore range, say experts

      The interim Budget for the fiscal year 2024-25 will be presented by Finance Minister Nirmala Sitharaman on February 1

    • Budget 2024 | Government likely to announce gross market borrowing of Rs 15-16 lakh crore for FY25

      The interim Budget for the fiscal year 2024-25 will be presented by Finance Minister Nirmala Sitharaman on February 1.

    • Centre to borrow Rs 8.88 lakh crore via bonds in first half of 2023-24

      The government does not plan to issue any Green Bonds in April-September, the finance ministry said

    • MTM losses on banks' AFS bond portfolio to remain lower in Q4 as yields stabilise, say experts

      However, some non-SLR portfolios may see a rise in MTM losses as spread on these instruments has widened by 5-7 bps, they said.

    • Budget 2023: Government bond yield set to trend towards 7%, say experts

      Easing of inflation and lower-than-expected government borrowings in the next financial year could take the benchmark bond yield to 7.10-7.20 percent, experts said.

    • Budget 2023 | Centre to borrow record Rs 15.43 lakh crore via bonds in FY24

      Union Budget 2023: The Centre's borrowing is among the most important determinants of interest rates in the economy. Higher-than-expected government borrowings can push up rates for all bond issuers, sovereign and corporate

    • Budget 2023: Centre may fix FY24 fiscal deficit target at 5.9% of GDP, borrow Rs 15.5 lakh crore

      The central government may continue to tread the path of gradual fiscal consolidation and lower the deficit by 50 basis points, say economists.

    • We expect fiscal deficit at 5.8-5.9% of GDP in FY24, says Mirae Assets’ Mahendra Jajoo

      The upcoming Union Budget would likely remain focused on growth as concerns about inflation diminish, says the Chief Investment Officer – Fixed Income at the fund house.

    • CPI inflation may ease to around 5.3% in FY24, says HDFC Bank's Swati Arora

      Upside risks to inflation could emanate from rising Covid cases in China, and if cases in India rise as well, that could again disrupt supply chains.

    • Year-ender: Better fundamentals likely to keep bond yields range-bound next year

      The yield on the 10-year benchmark government bond should hover around the 7.25-7.50 percent mark and may ease below this range as most negatives are already factored in

    • Government to announce higher borrowing in next budget to spend on public works, say experts

      The need to spend on public works and highlight its development objectives may prompt the government to borrow more in the next budget.

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