Govt's total liabilities rose to Rs 82.03 lakh crore in September quarter

Public debt accounted for nearly 90 per cent of the government's total liabilities, which ballooned to Rs 82.03 lakh crore at the end of September quarter, according to a report.

The Quarterly Report on Public Debt Management, released by the Finance Ministry on Monday, said public debt accounted for 89.3 per cent of total outstanding liabilities in three months ended September. Out of the public debt, nearly 83 per cent was internal debt.

The government's total liabilities increased to Rs 82.03 lakh crore in the latest September quarter from Rs 79.80 lakh crore in the preceding three months.

"The holding pattern indicates a share of 41.4 per cent for commercial banks and 24.6 per cent for insurance companies by end-September 2018," the report said.

Government securities' yields showed a hardening trend in the second quarter of the current fiscal. The weighted average yield of primary issuances climbed to 8.01 per cent from 7.76 per cent since the first quarter reflecting an increase in crude oil prices, rupee depreciation and rate hikes by the US Federal Reserve and the Reserve Bank, it added.

As per the report, the yield on 10-year benchmark G-Sec (7.17 per cent GS 2028) reached a high of 8.18 per cent on September 11, 2018.

"A similar reflection is also observed in yield spreads of different maturities as at end-September 2018 (except for G-Sec with 11-year maturity) compared to those prevailing at the end-June 2018," it said.