India has room to cut borrowings by Rs 50,000-75,000 cr in FY25 budget: Axis Bank treasurer

UNION BUDGET EXPECTATIONS: India may reduce its current year's gross market borrowings in the final budget next week due to a higher-than-expected central bank surplus transfer and strong revenue collections. Axis Bank's treasury head, Neeraj Gambhir, suggests borrowing could decrease by 500-750 billion rupees ($6-9 billion), with a potential 20-basis-point reduction in the deficit target.