The Centre on Wednesday announced it would borrow more than 53% of its budgeted gross market borrowings of ₹14.13 lakh crore for 2024-25 in the first half of the year.

Of the ₹7.5 lakh crore planned to be raised between April and September 2024, about ₹12,000 crore would be mobilised through Sovereign Green Bonds. While more than a quarter of these borrowings would be raised through bonds with a 10-year tenor, the Finance Ministry would introduce a new dated security of 15-year tenor that would be used to raise a little more than ₹1.04 lakh crore.

ICRA chief economist Aditi Nayar said she expects 10-year government bond yields to ease to a range of 6.8-7% in the first half of the next fiscal year, thanks to the inclusion of Indian bonds in global indices and a 15.5% year-on-year dip in gross borrowings.