Standard Chartered Bank estimates the government will announce on Monday gross borrowing for 2014-15 of Rs 5.8-6, based on the government's fiscal deficit target of 4.2 percent of GDP.
Finance Minister P. Chidambaram is due to unveil the interim budget on Monday, ahead of general elections.
StanChart adds the government could budget for a higher drawdown of cash balance in fiscal 2015 than in fiscal 2014, given the amount of redemptions.
The bank also estimates the government will end 2013/14 with a cash surplus of about Rs 1 trillion, despite the cancellation of the Rs 150-billion auction, as national small savings fund collection had exceeded the budgeted amount by Rs 361 billion as of end-December 2013.
Copyright Thomson Reuters 2014
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