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
The rupee rose to a five-week high against the dollar and stocks jumped more than 1.5 percent to near record highs on Thursday as exit polls predicted a strong showing for the key opposition party in recent state elections. Full Article
Chinese, Indian manufacturers help emerging market business growth in Nov - HSBC. Full Article