Tax & Spend
India to Stick to Prudent Financial Plan, Survey Shows
- Respondents in Bloomberg survey don’t see widening deficit
- Yield on 10-year bond seen at 6.9% by end of 2024, poll shows
This article is for subscribers only.
India looks set to swim against the current of emerging market officials loosening the purse strings, with debt sales by Prime Minister Narendra Modi’s new government seen in line with earlier projections.
New Delhi is expected to retain its earlier target of raising 14.1 trillion rupees ($169 billion) via bond sales in the fiscal year that began in April, according to the median forecast in a Bloomberg survey of economists. Not a single respondent expects the budget deficit to widen, underscoring just how keen officials are to maintain their hard-earned credibility at a time when global investors are piling into Indian debt thanks to its inclusion in JPMorgan Chase & Co indexes.