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Interim Budget 2024:For the financial year 2024-25, the government announced gross market borrowing of Rs 14.13 lakh crore and net borrowing of Rs 11.75 lakh crore. This is sharply lower than Rs 15.43 lakh crore announced for the current financial year.
The ambiguity over when the Reserve Bank of India would start implementing its plan to sell bonds via auctions, to manage liquidity in the banking system, added to the nerves.
Exclusive for Subscribers from Monday to Friday: Have you ever thought about how Buzakashi or lander module and propulsion module are relevant to the UPSC Exam? What significance do topics like Doha Agreement, Gujarat’s remission policy and Treasury Bills (T-bills) have for both the preliminary and main exams? You can learn more by reading the Indian Express UPSC Key for August 18, 2023.
"Overall, a well-balanced policy on expected lines with remote likelihood of any more rate hikes for now. A long wait for rate cut cycle as MPC re-iterates its commitment on 4% inflation target," says Vikas Garg, Head of Fixed Income, Invesco Mutual Fund.
The 10-year benchmark 7.26 percent 2033 bond yield was trading at 7.0199 percent during afternoon trade, as compared to 7.09 percent close on the previous trading session.