By using this site, you agree to the Privacy Policy and Cookie Policy.
Accept
Techy SadyTechy Sady
  • Home
  • Category
    • Mod Apk
    • Free Fire
    • Pubg Mod
    • PUBG VIRTUAL
    • Blogger
    • WordPress
    • News
  • Policy
    • Privacy Policy
    • DMCA
    • Cookie Policy
  • About Us
  • Contact Us
Reading: COVID-19 crisis: Lockdowns worsen India’s fiscal woes
Share
Notification Show More
Latest News
Download PUBG Mobile KR APK
Blogger
Download Coin MasterĀ APK + MOD (Unlimited Coins,Spins) v3.5.1000
Blogger
BGMI 2.4 Update: Check out the latest version of Battlegrounds Mobile India
Blogger Mod Apk Pubg Mod
United Mods FF V21_v1.94.X Free Fire MOD APK Downlad
Blogger
taiwan
Update Pubg Taiwan 2.3 Premium MOD APK -Download PUBG MOBILE (TW) 2.3.0 for Android
Blogger Mod Apk Pubg Mod
Aa
Aa
Techy SadyTechy Sady
  • Home
  • Mod Apk
  • Pubg Mod
  • Free Fire
  • PUBG VIRTUAL
  • News
  • Blogger
Search
  • Home
  • Category
    • Mod Apk
    • Free Fire
    • Pubg Mod
    • PUBG VIRTUAL
    • Blogger
    • WordPress
    • News
  • Policy
    • Privacy Policy
    • DMCA
    • Cookie Policy
  • About Us
  • Contact Us
Follow US
  • Home
  • Mod Apk
  • Pubg Mod
  • Free Fire
  • PUBG VIRTUAL
  • News
  • Blogger
Techy Sady > Blogger > COVID-19 crisis: Lockdowns worsen India’s fiscal woes
Blogger

COVID-19 crisis: Lockdowns worsen India’s fiscal woes

Techysady
Last updated: 2021/09/03 at 5:38 PM
Techysady Published May 1, 2021
Share
4 Min Read
SHARE

Mumbai: The unfolding Covid crisis in India is raising expectations that Prime Minister Narendra Modi’s government will need to raise more funds for stimulus even as the outbreak worsens its finances.

States and cities in the country, including New Delhi Rajdhani and its financial center Mumbai, have implemented lockdowns or curfews, which appear to affect public revenue. Based on official figures, according to Bloomberg’s calculations, executives are lagging their current financing target of 188 billion ($ 2.5 billion) in the new financial year in just one month.

Traders are also trying to assess whether new lockdowns and restrictions will disrupt the flow of goods and drive up prices. While the central bank has promised to keep policy adjustments, it has warned that failure to contain the second wave could disrupt domestic supply chains and fuel inflation pressures.

After the auction in April, Modi’s administration has lagged behind its financial plans, as it failed to achieve as much targeted. Given the government’s increasing need for funds, traders hold out for higher yields, forcing the central bank to cancel sales or promote purchases if it refuses to accept.

- Advertisement -

Need for more funding

“The fear is that localized lockdowns may result in a slowdown which may be met by fiscal expansion, and more borrowing pushing longer yields higher,” said Vikas Goel, chief executive and managing director at PNB Gilts Ltd. India’s curve is likely to steepen with the 10-year yield climbing to 6.35% in the next two to three months, he said.

“The fear is that localized lockdowns may result in a slowdown which may be met by fiscal expansion, and more borrowing pushing longer yields higher,” said Vikas Goel, chief executive and managing director at PNB Gilts Ltd. India’s curve is likely to steepen with the 10-year yield climbing to 6.35% in the next two to three months, he said.

A debt auction on Friday may provide a clue as to how the tussle will play out. The RBI is scheduled to offer 260 billion rupees of bonds, including 140 billion rupees of benchmark 10-year notes. Post trading Thursday, the RBI said it will buy 100 billion rupees of bonds as part of its Operation Twist on May 6. The yield on benchmark 10-year bond fell two basis points to 6.04% on Friday, and is down 13 basis points this month, the most since October. Much of the market’s worries center around the government’s plan to borrow a near-record 12.1 trillion rupees this year. For now, there are no signs the government intends to increase that amount although Finance Minister Nirmala Sitharaman said last week she won’t hesitate to front load borrowings if the need arises. India is now the global hotspot for the pandemic, with infections climbing above 18 million cases, while deaths have exceeded 200,000. The government has come under increasing pressure as hospitals run out of beds, oxygen and medical supplies in many parts of the country.

You Might Also Like

Download PUBG Mobile KR APK

Download Coin MasterĀ APK + MOD (Unlimited Coins,Spins) v3.5.1000

BGMI 2.4 Update: Check out the latest version of Battlegrounds Mobile India

United Mods FF V21_v1.94.X Free Fire MOD APK Downlad

Share this Article
Facebook Twitter Email Copy Link Print
Previous Article ALLAHABAD HC ORDERS LOCKDOWN IN 5 UP CITIES, STATE GOVT SAYS CAN’T DO IT
Next Article West Bengal Election 2021 Result Live: BJP maintains lead on 83 seats, TMC on 200
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
11.8k Members Follow

Latest News

Download PUBG Mobile KR APK
Blogger March 20, 2023
Download Coin MasterĀ APK + MOD (Unlimited Coins,Spins) v3.5.1000
Blogger January 12, 2023
BGMI 2.4 Update: Check out the latest version of Battlegrounds Mobile India
Blogger Mod Apk Pubg Mod January 12, 2023
United Mods FF V21_v1.94.X Free Fire MOD APK Downlad
Blogger January 3, 2023

You Might Also Like

Download PUBG Mobile KR APK

March 20, 2023
Blogger

Download Coin MasterĀ APK + MOD (Unlimited Coins,Spins) v3.5.1000

January 12, 2023
BloggerMod ApkPubg Mod

BGMI 2.4 Update: Check out the latest version of Battlegrounds Mobile India

January 12, 2023
Blogger

United Mods FF V21_v1.94.X Free Fire MOD APK Downlad

January 3, 2023
Techy SadyTechy Sady
Follow US

Copyright Ā© 2022 TECHY SADY

  • About Us
  • Privacy Policy
  • Cookie Policy
  • Contact Us
  • DMCA

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Register Lost your password?
pixel