Govt's total liabilities rise 3.7% to Rs 133.22 trn in March quarter

The report released by the finance ministry on Thursday said public debt accounted for 92.28% of the total outstanding liabilities at the end of March

The government's total liabilities rose 3.74 per cent to Rs 133.22 trillion in the March quarter from Rs 128.41 trillion in the three months ended December 2021, according to the latest public debt management report.

In absolute terms, the total liabilities, including liabilities under the 'Public Account' of the government, jumped to Rs 1,33,22,727 crore at the end of March 31, 2022. As of December 31, 2021, the total liabilities stood at Rs 1,28,41,996 crore.

The report released by the finance ministry on Thursday said public debt accounted for 92.28 per cent of the total outstanding liabilities at the end of March. It was at 91.60 per cent at the end of December last year.

Further, the report said the weighted average yield on primary issuances of dated securities showed an increase to 6.66 per cent in the fourth quarter from 6.33 per cent in the third quarter of the current fiscal.

"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 also remained at an elevated level during the quarter, touching a high of USD 129.26/bbl before moderating slightly and closing at USD104.40/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 per cent at the end of March, lower than 35.40 per cent registered at the end of December 2021.

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

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