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₹20 trillion package
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NEW DELHI: Government bonds declined on Wednesday as investors worried about India's fiscal deficit after Prime Minister Narendra Modi announced a massive ₹20 trillion package to revive the economy, brought low by the lockdown to contain the covid-19 pandemic.
The yield on the 10-year government bond surged nearly 6 basis points to 6.22% as of 1015am. Bond prices and yields move in opposite directions.
On Monday, the yield had surged nearly 20 basis points, the biggest jump in three years, after the government had announced an increase in its borrowing.
The rupee gained 0.3% to 75.29 a dollar. Modi, while announcing the package, had said the ₹20 trillion package, nearly 10% of India’s gross domestic product (GDP), aims to put money in
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COVID-19
United States
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Cases: 46 252 513
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Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
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