Govt working on sovereign benchmark for overseas debt: Sanjeev Sanyal

According to Sanyal, the government has been able to anchor the inflation level between three to four per cent

Sanjeev Sanyal, principal economic advisor to the Union finance ministry, on Tuesday said the government is working on creating a “sovereign benchmark” for raising cheap debt from overseas markets.

“The government is working on a sovereign benchmark for external borrowing, which will be finalised by September this year,” he said while speaking at the 91st Annual General Meeting of the Indian Chamber of Commerce in Kolkata. 

He said low cost borrowings from overseas market would largely reduce the crowding out effect in the domestic debt market and help maintain fiscal prudence.

According to Sanyal, the government has been able to anchor the inflation