India to gross borrow 6.77 trillion rupees in October-March

NEW DELHI: The Indian government will raise 6.77 trillion rupees ($76.32 billion) through market borrowings during the October to March period, marginally lower than its previously announced schedule in its effort to tame rising bond yields and ensure market stability.

India had planned to raise 14.82 trillion rupees in the current financial year through March, and sold bonds worth 7.95 trillion rupees in April-September.

The government has reduce the share of ultra-long bonds to 29.5% in second half, down from 35% in first half, while it has also included 100 billion rupees of green bond sales.