India to Borrow 8.2 Trillion Rupees in First-Half of Next Fiscal

India will borrow 8.2 trillion rupees ($86.5 billion) in the first half of the financial year beginning April 1, around half of the amount scheduled for the full 12-month period, the government said in a statement Friday.

The administration trimmed its gross borrowing program to 16.09 trillion rupees from 17.2 trillion rupees announced in the budget on Feb. 1. It also lowered the amount it intends to borrow via ultra-long dated securities, a move that may cap a further increase in sovereign bond yields, which have climbed to almost a two-year high since the US-Iran war broke out a month ago.