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Centre's 2023/24 Gross Borrowing Could Be Less Than Expected: Report
India borrowed 1.1 trillion rupees and 1.59 trillion rupees in 2020-21 and 2021-22, respectively. Typically, these redemptions would be added to the net borrowings to arrive at the expected gross borrowings. After adjusting for the redemption of such bonds in 2022-23, IDFC First Bank expects gross borrowing of 15.50 trillion rupees. "The gross G-sec issuance can be reduced further by using a combination of switches with the market and RBI," which could lower gross borrowing to 15.1 trillion rupees, IDFC First Bank economist Gaura Sen Gupta said in a note. "The RBI dividend is likely to get support from higher dollar sales, with gross sales tracking at $180 billion for April-November, versus $97 billion in FY22," said Sen Gupta. Source - NDTV
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