Public debt reduces marginally in Q4 to Rs 46.25 lakh crore

India's public debt decreased marginally to Rs 46,25,037 crore at end-March 2014 from Rs 46,29,689 crore at end December 2013.
"This represented a quarter-on-quarter (QoQ) decline of 0.1 per cent compared with an increase of 3.1 per cent in the previous quarter (Q3 of FY13)," said the Quarterly Report on Public Debt Management.
The public debt of Rs 46.25 lakh crore excludes liabilities under the 'Public Account'.
Internal debt constituted 91.1 per cent of public debt as compared to 91 per cent at the end of the previous quarter.
It further said marketable securities (consisting of Rupee denominated dated securities and treasury bills) accounted for 83.3 per cent of total public debt, almost same level as on end-December 2013.

The outstanding internal debt of the government at Rs 42,12,575 crore constituted 37.2 per cent of GDP as compared to 38 per cent at end-December 2013.

The report further said for fiscal 2013-14, gross and net market borrowings were higher than previous year by 1 per cent and 0.2 per cent, respectively.
The cash position of the government during the fourth quarter (January-March) 2013-14 was comfortable and remained in surplus mode during the three-month period.
The total volume of government securities transacted on an outright basis increased by of 18.32 per cent over the preceding quarter, contributed mainly by central government dated securities.

The report further said as a result of higher expenditure and lower revenue collections, revenue deficit and fiscal deficit during April-February 2013-14 at 117.3 per cent and 114.3 per cent of revised estimate (RE) were higher than 101.2 per cent and 97.2 per cent, respectively, during the same period a year ago.
"However provisional information on revenues realised during March 2014 on account of higher than expected 2G auction realisation, PSE ETF sale, revenues etc suggest that RE target of 4.6 per cent would be achieved in 2013-14," it added.