HomeEconomyIndia's total borrowing in FY24 likely to be lower than expected -... Economy India's total borrowing in FY24 likely to be lower than expected – Economist By farahat January 25, 2023 0 33 views Share FacebookTwitterPinterestWhatsApp FRBA -1. % Add/Remove from Watchlist Join the watch list Add location Location successfully added to: Please name Your portfolio Types of: purchase Sell date: quantity: price Point value: Leverage: 1:1 1: 1: 1: 12 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. “About. Once we remove these, the “true” total debit will appear . 8 trillion rupees,” economists estimate. India borrowed 1.1 trillion rupees and 1. 12 trillion rupees – and100-, lending to the states separately and making up for the shortfall in tax revenue. Redemption of such bonds after adjustment 200- , IFC 2024 First Bank (NASDAQ: 1000FRBA) . trillion rupees. This fiscal year, the government has exchanged bonds worth 1 trillion with the market and the Reserve Bank of India (RBI) by replacing bonds maturing in the next few years with longer-dated securities. Rupee bonds. “The total issuance of G-sec can be further reduced by combining market and RBI switching,” which may lower the total borrowing g to .1 trillion rupees, IDFC First Bank economist Gaura Sen Gupta said in a report said in. Then there is also the possibility of a surprise dividend payout to the government by RBI in the next financial year. Reserve Bank of India, of which dividends will be declared after 3 months 11, may get higher profits due to large dollar sales. since100/, RBI Historical cost as a benchmark, IDFC First Bank estimates as 15.3. “RBI’s dividend is likely to be supported by higher dollar sales with total sales tracking at $31 Billion April-November vs. $11 billion ,” Senator Gupta said. According to Madhavi Arora, an economist at Emkay Global Financial Services, this could allow the RBI to transfer close to Rs 1 trillion to the government, boosting its revenue and enable it to control borrowing. ($1=19.500 Indian Rupee) 500 Share FacebookTwitterPinterestWhatsApp Previous articleBetty Gilpin and Dane DeHaan to Direct Netflix's 'American Raw'Next articleNumber of New Ethereum Smart Contracts Falls 60% in 2023 farahat RELATED ARTICLES Economy Exclusive – Top U.S. Treasury official warns Middle Eastern countries to evade sanctions January 28, 2023 Economy US seeks tighter bail for FTX founder Bankman-Fried to prevent tampering January 28, 2023 Economy S&P downgrades Hungary to 'BBB-/A-3', outlook 'stable' January 28, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! Please enter your email address here Website: Save my name, email, and website in this browser for the next time I comment. USA Trends Messi-mad Indian mom driving to Qatar to see hero in his final World Cup December 7, 2022 Drew Brees fakes lightning strike in promotional stunt for online sportsbook December 3, 2022 Who could be speaker, if not Kevin McCarthy December 3, 2022 3 bold Utah football predictions for Pac-12 Championship vs. USC December 3, 2022 Load more LAST NEWS Exclusive – Top U.S. Treasury official warns Middle Eastern countries to evade sanctions January 28, 2023 Nicole Kidman and Maya Erskine to Direct HBO's 'Perfect Nanny' Limited Series January 28, 2023 'Plan C' review: Sensitive doctor paints warrior for women's right to choose January 28, 2023 Google brings locked incognito tabs to Chrome for Android January 28, 2023 Load more Featured NEWS Batsheva Spring 2023 Ready-to-Wear September 14, 2022 My Most Important Conversation With Michelle Obama November 23, 2022 Pakistan repays $1 billion in international bonds – central bank spokesman December 3, 2022 Seahawks QB Geno Smith, Chiefs QB Patrick Mahomes among Players of the Week October 5, 2022 Load more
