No rethink on sovereign bond issue: FM

Finance Minister Nirmala Sitharaman has said there is no reconsideration on the plan to issue a foreign currency overseas sovereign bond. The clarification comes amidst reports that the PMO and allies of the ruling BJP wanted the finance ministry to reassess the idea of sovereign bonds and seek wider consultation. The government plans to borrow nearly $10 billion from the foreign overseas market, out of total planned borrowing of about $103 billion for the year.