New Delhi:
The government’s total liabilities rose to Rs 147.19 lakh crore at the end of September from Rs 145.72 lakh crore at the end of June of this fiscal year, according to the latest government debt data.
In percentage terms, it reflects a quarter-on-quarter increase of 1 percent in the second quarter of 2022-23.
Government debt accounted for 89.1 percent of total gross liabilities at the end of September 2022, up from 88.3 percent as of June 30, according to the quarterly government debt management report released by the Treasury Department on Tuesday.
Nearly 29.6 percent of outstanding dated securities had less than 5 years remaining to maturity.
During the second quarter, it said, the central government raised Rs 4,06,000 crore through dated securities, as opposed to the announced amount of Rs 4,22,000 crore in the loan calendar, while repayments amounted to Rs 92,371.15 crore.
The weighted average yield of primary issues hardened to 7.33 percent in Q2 FY23 from 7.23 percent in Q1 FY23. in K1.
During the July-September 2022 period, the central government has not collected any amount through Cash Management Accounts.
The Reserve Bank conducted no open market operations for government securities during the quarter.
The net daily average liquidity absorption by RBI under Liquidity Adjustment Facility (LAF) including Marginal Standing Facility and Special Liquidity Facility was Rs 1,28,323.37 crore during the quarter, it said.
Yields on government securities in the secondary market hardened in the short-term curve due to short-term inflation and liquidity issues, although a weakening in yields was seen for longer-maturity securities in the second quarter, it said.
The Monetary Policy Committee decided to raise the policy repo rate by 100 basis points, that is, from 4.90 percent to 5.90 percent in the second quarter, largely with the aim of containing inflation, it said.
The ownership pattern of central government securities indicates that the share of commercial banks was 38.3 percent at the end of September 2022, up from 38.04 percent on June 30, it said.
With regard to foreign exchange reserves, the report said, these stood at $532.66 billion as of September 30, 2022, moderated from $638.64 billion as of September 24, 2021.
Between July 1, 2022 and September 30, 2022, the rupee has depreciated by 3.11 percent. The value of the rupee against the dollar stood at 79.09 on July 1 from 81.55 on September 30, it said.
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