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Business EconomyPosted at: Dec 17 2018 6:07PM


Govt's total liabilities grew up to Rs 82,03,252 cr in Q2

New Delhi, Dec 17 (UNI) Total liabilities of the government has increased to Rs 82,03,252 crore by the end of September 2018, the Government said on Monday.
Earlier, the liabilities, including that under the public account, was Rs 79,80,667 crore at end of June 2018, the Union Finance Ministry said here in a quarterly report (Jul Sept 2018) on debt management.
According to the Ministry, public debt accounted for 89.3 per cent of total outstanding liabilities at end-September 2018 with the share of internal debt being 82.9 per cent. Nearly 26.6 per cent of the outstanding dated securities had a residual maturity of less than five years.
The holding pattern indicated a share of 41.4 per cent for commercial banks and 24.6 per cent for insurance companies by end-September 2018, the Ministry added.
The Ministry said government securities (G-Sec) yields have shown a hardening trend in Q2 of FY19 with the increase in weighted average yield of primary issuances to 8.01 per cent from 7.76 per cent since the last quarter reflecting the impact of several developments namely an increase in crude oil prices, depreciation in the value of Rupee against the US dollar and rate hikes by US Fed and the Reserve Bank.
The yield on 10-year benchmark G-Sec 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-Secs with 11 year maturity) compared to those prevailing at end-June 2018.
The Centre dated securities continued to account for a major share of total trading volumes in the secondary market, with a share of 85 per cent in total outright trading volumes in value terms during Q2 of FY 19.
During Q2 of FY19, the government issued dated securities worth Rs 1,44,000 crore as against Rs 1,89,000 crore in Q2 of FY18. The weighted average maturity (WAM) of new issuances stood at 15.04 years in Q2 of FY 19 (14.58 years in Q2 of FY 18).
The weighted average yield (WAY) of issuances for the same quarter was 8.01 per cent compared to 6.76 per cent in Q2 of FY 18. The temporary cash flow mismatches were bridged through issuance of Cash Management Bills amounting to Rs 20,000 crore during the quarter. The net average liquidity injection by RBI under Liquidity Adjustment Facility (LAF) including MSF was Rs 16,097.2 crore during the quarter.
UNI SW SHK1807
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