Economy News

Government liabilities up 1% to L₹cr 147 in Q2 – Mintpaisa

Total government liabilities rose to ₹147.19 lakh crore at the end of September from ₹145.72 lakh crore at the end of June, according to the latest government debt data.

In percentage terms, it reflects a marginal 1% quarter-over-quarter increase in the second quarter of 2022-23.

Public debt represented 89.1% of total gross liabilities at the end of September, compared to 88.3% on June 30, according to the quarterly report on public debt management published by the Ministry of Finance on Tuesday.

For the quarter ended September, the central government raised ₹4.06 lakh crore through dated securities, against a notified amount of ₹4.22 lakh crore in the borrowing schedule, while repayments rose at ₹92,371 crore.

Nearly 29.6% of dated securities in circulation had a residual maturity of less than five years, the report said.

The weighted average yield of primary issues increased to 7.33% in the July-September quarter, from 7.23% in the previous quarter, he said, adding that the weighted average maturity of new issues of securities dated was lower at 15.62 years in the September quarter than 15.69 years in the first quarter of this fiscal year.

From July to September, the Center raised no funds through cash management invoices. The Reserve Bank of India (RBI) did not conduct any open market operations for government securities during the quarter.

The RBI’s average daily net cash absorption under the Liquidity Adjustment Facility, including the Marginal Standing Facility and Special Liquidity Facility, was ₹1,28,323.37 crore during the quarter, he indicated.

Foreign exchange reserves stood at $532.66 billion as of September 30, compared to $638.64 billion as of September 24, 2021.


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