NEW DELHI (Reuters) -The Indian government’s market borrowings for the second half of the current financial year will remain unchanged, Chief Economic Adviser V. Anantha Nageswaran said on Monday.
India plans to borrow 14.82 trillion rupees ($167.87 billion) for the current financial year ending March 31, of which it is scheduled to borrow 6.8 trillion rupees in October-March.
“We are confident of maintaining (the) fiscal deficit (target), the second half borrowing will be unchanged,” Nageswaran told news channel CNBC-TV18.
India has projected its fiscal deficit at 4.4% of GDP in 2025/26.
Nageswaran said he expects the inflation trend to be benign until the end of the next calendar year.
India’s retail inflation was 2.07% in August, and economists expect consumer tax cuts on food and household items to lower inflation in the coming months.
($1 = 88.2800 Indian rupees)
(Reporting by Nikunj Ohri, writing by Tanvi Mehta; editing by YP Rajesh, Aidan Lewis)
