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India's total borrowing in FY24 likely to be lower than expected – Economist

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Mumbai (Reuters) – India’s central government has total market borrowing of 97/ may fall short of market expectations as A batch of securities was raised to compensate for shortfalls in the states Some economists said the GST may not be rolled over.

However, the central bank is likely to pay the government a higher dividend, which could allow for a surprise in the February 1 budget report.

Total government borrowing is expected to hit a record high trillion rupees (about $31 Billion) Fiscal year ended March , according to a Reuters poll of economists.

ICICI Securities Primary Dealer expects government net borrowing to be . Rs. 5 trillion for the next financial year. In addition, bonds worth Rs 4 trillion will be redeemed during the year. Typically, these redemptions will be added to net borrowing to arrive at the expected total borrowing. However, this year, some of these maturing bonds were issued to give states GST compensation, economists Prasanna A and Abhishek Upadhyay said in a report.

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