Mumbai: Indian funds, insurers and banks have increased their positions in longer-duration bonds in anticipation of the federal government’s interim budget being fiscally conservative with no pre-election spending surprises.India’s finance minister is set to present the country’s federal budget for 2024/25 on Feb1, with expectations of the government reducing its fiscal deficit by at least 50 basis points (bps) and keeping its gross market borrowings flat in the range of 15-15.5 trillion rupees ($186.47 billion).Recent bond auctions saw bids that surpassed expectations, said Alok Singh, group treasury head at CSB Bank, suggesting the market is positioning for a favourable budget,…
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