India keeps borrowing plan unchanged for second half; introduces 50-yr bond

NEW DELHI (Reuters) – Indian government plans to borrow 6.55 trillion rupees ($78.72 billion) through bond issuances in the October-March period, the central bank said on Tuesday, as it introduced a new security with a 50-year tenure.

India has projected gross market borrowing at 15.43 trillion rupees for the current fiscal year ending March 31, 2024, of which it has borrowed 8.88 trillion rupees between April and September.

The government said the borrowing will be done through bonds with tenures of three, five, seven, 10, 14, 30 and 40 years.

The borrowing plan for the second-half of the fiscal year will include issuance of government green bonds worth 200 billion rupees, it said.

($1 = 83.2070 Indian rupees)

(Reporting by Nikunj Ohri and Sarita Chaganti Singh, editing by Ed Osmond and Anil D’Silva)