Total government liabilities rise 3.7% sequentially in March quarter

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Total government liabilities rose 3.74 percent to 133.22 trillion rupees in the March quarter from 128.41 trillion in the previous quarter, the finance ministry said on Thursday.

Public debt represented 92.28% of total outstanding liabilities at the end of March compared to 91.6% at the end of December 2021.

The report adds that the weighted average yield of primary issues of dated securities rose to 6.66% in the fourth quarter of last year, from 6.33% in the third quarter.

“The weighted average maturity of dated issues was also higher at 17.56 years in Q4 FY22 (16.88 years in Q3 FY22). The weighted average maturity of outstanding dated securities was higher at 11.71 years at the end of the fourth quarter of FY22, compared to 11.69 years at the end of the third quarter of FY22,” did he declare.

Crude oil prices remained high during the quarter, reaching a high of $129.26 per barrel before moderating slightly and closing at $104.40 per barrel at the end of the quarter, according to the report. . He noted that the high level of crude prices contributed to the hardening of the yield of the 10-year G-Sec in the domestic market.

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

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

The share of mutual funds was 2.91% at the end of March against 3.08% at the end of the December 2021 quarter while the share of RBI fell to 16.62% against 16.92% during the same period.

(with PTI inputs)

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