Total govt liabilities rise to Rs 146 trn in Q1: Finance ministry report

The total liabilities of the government increased to Rs 145.72 trn at the end-June 2022 from Rs 139.58 trn end-March 2022, according to the latest data on public debt

The total liabilities of the government increased to Rs 145.72 lakh crore at the end-June 2022 from Rs 139.58 lakh crore at end-March 2022, according to the latest data on public debt.

In percentage terms, it reflects a quarter-on-quarter increase of 4.40 per cent in the first quarter of 2022-23.

Public debt accounted for 88.3 per cent of total gross liabilities at the end-June 2022 slightly up from 88.1 per cent at the end-March 2022, the quarterly report on public debt management released by the Finance Ministry on Friday said.

The weighted average yield on primary issuances of dated securities showed an increase to 6.95 per cent in Q1 of FY23 from 6.66 per cent in Q4 of FY22.

The weighted average maturity of issuances of dated securities was lower at 14.90 years in Q1 of FY23 (17.56 years in Q4 of FY22), it said.

The weighted average maturity of the outstanding stock of dated securities was higher at 11.87 years at the end of Q1 of FY23 compared to 11.71 years at the end of Q4 of FY22, it said.

"The proportion of debt (dated securities) maturing in less than one year was higher at 4.14 per cent at end-June 2022 (3.88 per cent at end-March 2022). The proportion of debt maturing within 1-5 years at 24.76 per cent at end-June 2022 was lower than its level of 25.43 per cent at end-March 2022," it said.

Debt maturing in the next five years worked out to 28.9 per cent of total outstanding debt at end-June 2022 ie 5.78 per cent of outstanding stock on average needs to be repaid every year over the next five years, it said.

Thus, it said, the roll-over risk in dated securities portfolios remains low.

The gross fiscal deficit of the central government for 2022-23 was budgeted at Rs 16,61,196 crore or 6.4 per cent of GDP compared to the revised estimate of Rs 15,91,089 crore (6.71 per cent of GDP) for 2021-22.

The ownership pattern of central government securities indicates that the share of commercial banks stood at 38.04 per cent at the end-June 2022, higher than 37.75 per cent at end-March 2022, it said.

"Share of insurance companies and provident funds at end-June 2022 stood at 26.34 per cent and 16.06 per cent, respectively...share of RBI went downward at 16.06 per cent at end June 2022 from 16.62 per cent at end March 2022," it said.