Bond market braces for extra borrowing

The bond market is quite sure the government will have to come to it for borrowing more, to bridge the fiscal deficit target gap.
 
The target is 3.2 per cent of gross domestic product and doesn’t look achievable — the government is undershooting its revenue and tax targets.
 
It is yet to auction telecom spectrum and the chance of this happening is waning. The year’s disinvestment target of Rs 73,000 crore is also tough. 
 
The direct tax collection target of about Rs 10 lakh crore could be met. But early indications show glitches in the goods and