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Public debt drops to Rs.55.73 lakh crore at fiscal-end

Government debt was at Rs 55.75 lakh crore at the end of December last year

Policy Pulse
Publish Date: May 24 2016 3:55PM | Updated Date: May 24 2016 3:57PM

Public debt drops to Rs.55.73 lakh crore at fiscal-end

 India's public debt dipped slightly to Rs.55.73 lakh crore at the end of the last fiscal in March, registering a decline over earlier quarter of 0.04 percent, an official statement has said.

 
Government debt (excluding liabilities under the Public Account) was at Rs 55.75 lakh crore at the end of December last year, said the quarterly report on debt management released by the finance ministry.
 
Government's domestic borrowing for 2015-16 have been revised downwards, it said.
 
"Government issued dated securities worth Rs.84,000 crore to complete its gross borrowings of Rs.5,85,000 crore for FY 16”.
 
"Gross and net market borrowing requirements of the government for FY16 were revised lower to Rs.5,85,000 crore and Rs.4,40,608 crore, which were lower by 1.18 percent and 2.75 percent, respectively, than Rs.5,92,000 crore and Rs.4,53,205 crore in FY15," it said.
 
"The cash position of the government during Q4 of FY16 was comfortable and remained in surplus mode during the quarter. The issuance amount under Treasury bills was also broadly as per calendar," it added.
 
The outstanding internal debt of government at Rs.5,130,179 crore constituted 37.8 percent of GDP at end-March 2016, as compared to 38.7 percent of GDP at end-December 2015.
 
Centre dated securities continued to account for a dominant portion of total trading volumes in the fourth quarter of 2015-16, it said.
 
Net inflows in the form of foreign direct investment during the quarter in question were robust and more than sufficient to fund the external financing requirements, the report added.