Additional central borrowing a negative surprise: BofAML
The global brokerage expects Finance Minister Arun Jaitley to hold to the fiscal deficit target of 3.2 per cent of GDP, same as 2017-18, with net borrowing of Rs 4,92,000 crore.
BofAML said notwithstanding bank recapitalisation, the sell off in G-secs is delaying lending rate cuts and pushing back recovery. Representational photo: Image source: Pixabay