Govt source says fiscal deficit may widen more
MUMBAI (Reuters) - A government source said the fiscal deficit could widen more than targeted for the year ending in March, potentially requiring additional market borrowing.
The government source said the fiscal deficit could reach 5.5 to 5.6 percent of gross domestic product in 2012/13, which could require additional market borrowing of 350-400 billion rupees.
The benchmark 10-year bond yield rose to as high as 8.23 percent, up 3 basis points from levels before the news. The yield was last trading at 8.22 percent compared to its 8.21 percent close on Wednesday.
(Reporting by Subhadip Sircar; Editing by Rafael Nam)
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- More quakes jolt Iceland overnight, spread to second volcano
- Modi to launch plan for every Indian household to have bank account
- Modi slams whispering campaign against Rajnath Singh
- Pakistan's prime minister resolved to ride out protests crisis
COAL BLOCK ALLOCATIONS
A Supreme Court ruling this week that India's decades-old method of granting coal mining concessions is illegal could herald much-needed reforms in a sector long dogged by the inability of state-run Coal India to raise output fast enough. Read
Modi to launch plan for every Indian household to have bank account . Full Article
Kleiner to invest in messaging startup Snapchat at near-$10 bln valuation - report. Full Article