The Indian government, in coordination with the Reserve Bank of India (RBI), revealed its intention on Thursday (September 26) to secure Rs 6.61 lakh crore in the second half (H2) of the financial year (FY) 2024-25. This amount, which aligns with expectations, accounts for 47.2% of the total gross market borrowing target of Rs 14.01 lakh crore for the fiscal year.

As per the Ministry of Finance, out of the Gross Market borrowing of Rs 14.01 lakh crore allocated for the financial year (FY) 2024-25, Rs 6.61 lakh crore (47.2%) is scheduled to be borrowed in H2 through the issuance of dated securities, which includes Rs 20,000 crore of Sovereign Green Bonds (SGrBs), distributed over 21 weekly auctions.

These borrowings will cover maturities ranging from 3 to 50 years, with the largest share allocated to 10-year securities (24.8%).

Moreover, the government plans to issue treasury bills worth Rs 19,000 crore in the third quarter to manage short-term funding requirements. Additionally, the Reserve Bank of India has established the ways and means advances (WMA) limit at Rs 50,000 crore for the second half to address temporary mismatches in government accounts.

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