Govt's
gross liabilities rise to Rs 160.69 trillion at Dec-end: FinMin
Total gross liabilities of the government increased marginally to
Rs 160.69 lakh crore at the end of December 2023 from Rs 157.84 lakh crore at
September-end, the finance ministry said on Thursday.
This represented a quarter-on-quarter increase of 1.8 per cent in
the September quarter of 2023-24, said the public debt management quarterly
report (October-December 2024).
Public debt accounted for 90 per cent of total gross liabilities
during the third quarter of the current fiscal year.
"During the quarter, the yield on Indian domestic bond
initially rose but softened thereafter on account of decline in crude oil
prices, lower than expected domestic CPI prints for October and November and
news about possible inclusion of Indian Government Bonds (IGBs) in a major
global emerging market index," the report said.
Further, an ultra-long 50-year G-sec was introduced to cater to
the demand from long-term investors. On the other hand, US treasury yields
remained volatile during the quarter mostly affected by Federal Reserve action,
inflation, and employment data.
The maturity profile of outstanding government debt as on end
December 2023 mirrors elongation of maturity profile of outstanding government
debt, the report said.
The proportion of debt (dated securities) maturing in less than
one year stands at 4.1 per cent at end-December 2023 (4.6 per cent at
end-September 2023).
The proportion of debt maturing within 1-5 years at 21.8 per cent
at the end of December 2023 was lower than 23 per cent at September-end 2023.
Debt maturing in the next five years worked out to 25.9 per cent
of total outstanding debt at end-December 2023--5.2 per cent of outstanding
stock, on an average, needs to be repaid every year over the next five years.
Thus, the roll-over risk in dated securities portfolio remains
low, the report added.
The report gives an account of the public debt management and cash
management operations during the quarter and provides detailed information on
various aspects of debt management, the ministry said.
www.business-standard.com
dt. 29.03.2024