DBS Group: India's budget has very little impact on boosting the bond market.

DBS Group's Radhika Rao says that the bond market is not expected to receive a boost from the Indian budget, and yields may rise in the short term. The senior economist stated in a report that "the bond market may nervously eye the overall borrowing size." She noted that the total borrowing target for the fiscal year 27 is set at a record 17.2 trillion Indian rupees, compared to DBS Group's forecast of 16.5 trillion Indian rupees, and the data for fiscal year 26 was 15.5 trillion Indian rupees. She added that the Reserve Bank of India has been one of the primary buyers of government securities over the past year, and this trend may continue until domestic participants, led by banks, return to the market to better balance supply and demand.