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FinMin To Address Post-Budget Meeting

INDIA

Indian bond traders will await clarification of the budget from Finance Minister Nirmala Sitharaman who is scheduled to address the post-Budget meeting of the RBI's central board today.

  • Among the issues he is expected to address is the fiscal deficit which is estimated to hit a record high of 9.5% in the current year, but touted at 6.8% in the next fiscal year.
  • Earlier this month, RBI Governor Das said the central bank would be able to manage the high government borrowings for the next fiscal in a non-disruptive manner, he added the RBI had discussed the borrowing with the Ministry of Finance even before the Budget.
  • Also up today is INR 176.9bn worth of state debt sales, market participants will look to demand at the auctions amid broad risk on trade that has seen a rise in crude prices and US yields.

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