Page 3 - Government Borrowing

Financing the vaccine

Any cess or surcharge should be one-time

Savings, profits, stocks can't stay high for long amid low income and interest rates

Things that cannot go on forever will not go on forever. There will be a change in the direction of the wind. One must hope it will be slow and calibrated, writes T N Ninan

UK borrowing reaches $46 bn, exceeds forecasts; debt highest since 1960

British public borrowing is on course to reach a record 372 billion pounds this financial year, according to forecasts in August from the Office for Budget Responsibility

Bond dealers not sure of government's Rs 12-trillion borrowing plan

Most say there could be excess borrowing of at least Rs 1.5-2 trn in coming days

Centre keeps borrowing programme unaltered at Rs 4.34 trillion in H2

In the first half that ended in September, the government borrowed Rs 7.66 trillion at an average yield of 5.82 per cent

Centre keeps borrowing programme unaltered at Rs 4.34 trillion in H2

To borrow Rs 4.34 trillion in 16 weekly tranches till Jan-end for the second half of the financial year

At Rs 40,072 cr, govt's external financing jumps 5 times till Aug: Report

In absolute terms, fiscal deficit -- which is the gap between expenditure and revenue -- stood at Rs 8,70,347 crore

Govt to borrow Rs 4.34 trillion in second half of FY21: Finance Ministry

The Finance Ministry said the government will borrow Rs 4.34 trillion in the second half of the current fiscal to meet its expenditure requirement amid Covid-19 crisis afflicting the economy

Ratio of India's public debt to GDP likely to scale a new high in FY21

According to the Reserve Bank of India (RBI) data, the combined liabilities of the Centre and the state governments were around Rs 147 trillion at the end of March 2020

India's (im)possible road ahead

Better implementation of policy measures and reaching out to those left behind are needed next

Foreign funds flee India's bonds just when it needs them the most

The amount of sovereign securities held by global funds has slumped Rs 76,700 crore ($10 billion) from this year's peak in February

Fiscal math of the imponderables

Growth holds the key to the government's fiscal deficit slippage

RBI converts less than a third of Rs 30K-crore bonds into long securities

Bond dealers said the market wanted the RBI to offer them higher coupon for the switch, as the source security is maturing just next month.

Imposing pointless conditions on loans will stifle States: Tamil Nadu CM

Palaniswami was referring to conditions put forward by Centre to raise borrowing limits from 3% to 5% of GSDP for this financial year

Govt to switch Rs 30,000 crore of bonds for longer tenure securities

Such switches happen to enable the government repay the loans at a later date to ease the strain on the exchequer in the immediate term.

Best of BS Opinion: Rs 20-trn stimulus, govt's borrowing plan, and more

Here's a selection of Business Standard opinion pieces of the day

A day after, bond yield closes flat at 6.16% amid liquidity surplus

Given the plan to borrow an additional Rs 4.2 trillion from the market, yields will show a tendency to move up. But, the huge liquidity in the system kept the rise in check, bond dealers said.

Govt borrowing may spike yields, dent gilt fund returns due to MTM impact

Some market participants say there is still room for upside for long-duration products

Yields jump 20 bps on borrowing target hike, banks stem free fall

The government had surprised everyone with a revised borrowing programme of Rs 12 trillion, against Rs 7.88 trillion originally planned

Best of BS Opinion: Govt's borrowing plan, coronavirus outbreak, and more

Here's a selection of Business Standard opinion pieces of the day