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Union Budget
1 Feb 2021
Bond yields to surge on Rs 12 trillion borrowing for fiscal 2021-22 – Budget impact on markets
The finance minister, Nirmala Sitharaman unnerved the bond markets with additional borrowing of Rs 800 billion for this fiscal year and Rs 12 trillion gross borrowing for next fiscal year. Fiscal deficit was pegged at 9.5% of GDP for fiscal 2020-21 and 6.8% for fiscal 2021-22. Fiscal deficit in absolute terms is at Rs 19 trillion for last fiscal year and is budgeted at Rs 14.6trillion for this year.
Arjun Parthasarathy
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