MUMBAI, Feb 1 (Reuters) - India’s benchmark 10-year bond yield rose 5 basis points to 7.46 percent on Thursday after Bloomberg reported the fiscal deficit target for the year starting in April had been set at 3.3 percent of gross domestic product, citing sources.
The deficit, if confirmed, would be slightly higher than estimates for a 3.2 percent deficit of GDP for 2018/19.
The 10-year bond yield had been trading at 7.41 percent before Finance Minister Arun Jaitley started to present the government’s 2018/19 budget to parliament. He has yet to give the official 2018/19 fiscal deficit target. (Reporting by Rafael Nam; Editing by Subhranshu Sahu)