BBN Bureau
NEW DELHI/October 03-2022: The Central Government has raised an amount through dated securities worth Rs3,90,000 crore (Rs3.9 trillion) in Q1 of the current year (FY23) as against Rs3,18,493 crore (Rs3.19 trillion) in Q1 of FY22 representing 22.45 per cent year on year (YoY) growth.
The repayment during the said period, Q1-FY23, was to the tune of Rs1,34,989.71 crore.
The statistics on debt securities has been released by the Public Debt Management Cell (PDMC), Budget Division, Department of Economic Affairs (DEA), Ministry of Finance, which has been bringing out a quarterly report on debt management on a regular basis.
Yield hardened
The weighted average yield of primary issuances hardened to 6.95 per cent in Q1 FY23 from 6.66 per cent in Q4 of FY22. The weighted average maturity of new issuances of dated securities was lower at 15.69 years in Q1 of FY23 as compared with 17.56 years in Q4 of FY22.
During April-June 2022, the Central Government did not raise any amount through the Cash Management Bills. The Reserve Bank of India (RBI) did not conduct Open Market Operations (OMO) for government securities during the quarter.
Liquidity Adjustment Facility (LAF) including Marginal Standing Facility and Special Liquidity Facility was at Rs4,52,405.87 crore during the quarter.
Total gross liabilities (including liabilities under the ‘Public Account’) of the Central Government, as per provisional data, increased to Rs1,45,72,956 crore at end-June 2022 from Rs1,39,58,774 crore at end-March 2022.
This represented a quarter-on-quarter increase of 4.40 per cent in Q1 FY23. Public debt accounted for 88.3 per cent of total gross liabilities at end-June 2022 up from 88.1 per cent at end- March 2022.
Nearly 28.9 per cent of the outstanding dated securities had a residual maturity of less than 5 years.
The yields on Government securities hardened in the secondary market due to increase in supply of G-secs during the first quarter of FY23.
