简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:NEW DELHI, Sept 27 (Reuters) - India is not planning any changes to its tax regime to help Indian go
NEW DELHI, Sept 27 (Reuters) - India is not planning any changes to its tax regime to help Indian government bonds be included on other global indices, a government source said on Wednesday.
JPMorgans decision last week to include India in its emerging market bond index from June 2024 is likely to bring in around $25 billion, as per analysts estimates. Fellow index provider FTSE Russell, which has India on the watchlist for inclusion, has a review scheduled later this week. The Bloomberg indexes do not include India either.
India imposes a 20% withholding tax on foreign investors buying and selling local debt, seen as a deterrent for traders, as well as index providers.
Indias Finance Ministry did not immediately reply to an email from Reuters.
The source, who did not want to be named because he is not authorised to speak to media, also said the federal governments revenue and expenditure was in line with budget estimates so far.
The government has spent 40% of its budgeted capital expenditure by early September, the source said.
Indias federal government is targeting a fiscal deficit of 5.9% of GDP for the financial year ending March 31, 2024 and will borrow 6.55 trillion rupees ($78.70 billion)in the October-March period.
Net borrowing during that period will be 3.74 trillion rupees, which includes repayment of 2.81 trillion rupees on account of securities maturing, the person said.
($1 = 83.2275 Indian rupees)
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.