Govt’s total liabilities rise 3.7% sequentially in March quarter

The government’s total liabilities rose 3.74% to Rs 133.22 trillion in the March quarter from 128.41 trillion in the previous quarter, the finance ministry said on Thursday.

Public debt accounted for 92.28% of the total outstanding liabilities at the end of March as against 91.6% per at the end of December 2021.

The report added the weighted average yield on primary issuances of dated securities showed an increase to 6.66% in the fourth quarter of last year from 6.33% in the third quarter.

“The weighted average maturity of issuances of dated securities was also higher at 17.56 years in Q4 of FY22 (16.88 years in Q3 of FY22). The weighted average maturity of outstanding stock of dated securities was higher at 11.71 years at the end of Q4 of FY22 as compared to 11.69 years at the end of Q3 of FY22,” it said.

Crude oil prices remained at an elevated level during the quarter, touching a high of $129.26/bbl before moderating slightly and closing at $104.40/bbl at the end of the quarter, the report said. It noted that the elevated level of crude prices contributed to hardening of 10-year G-Sec yield in the domestic market.

Regarding ownership pattern of central government securities, the report said the share of commercial banks stood at 37.75% at the end of March, lower than 35.40% registered at the end of December 2021.

At the end of March, share of insurance companies and provident funds stood at 25.89% and 4.60%, respectively.

Share of mutual funds was at 2.91% at the end of March as against 3.08% at the end of quarter December 2021 while share of RBI went downward to 16.62% from 16.92% during the same period.

(with PTI inputs)

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