Govt betting on households to help tackle India's $346 bn debt pile

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Govt betting on households to help tackle India's $346 bn debt pile - Business Standard

Quick Summary:

To tackle the burden, the Reserve Bank of India and the government are swapping maturing debt with longer-dated notes.

The “real test of demand” will occur in the year that starts April 1 as provinces also step up longer-tenor debt sales, according to A.

For India’s public finance managers, this demand is a welcome shift from just a few years back, when bond vigilantes would quickly push up borrowing costs at the slightest hint of increased borrowings.