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The Government of India, in consultation with the Reserve Bank of India (RBI), has finalised its borrowing programme for the second half of the fiscal year 2025-26, targeting a total of Rs 6.77 lakh crore through dated securities. This also includes 10,000 crore through issuance of Sovereign Green Bonds (SGrBs), according to the Ministry of Finance press release.
The Gross Market Borrowing of 6.77 lakh crore shall be completed through 22 weekly auctions till March 6, 2026. The market borrowing will be spread over 3, 5, 7, 10, 15, 30, 40, and 50-year securities, a release said. The share of borrowing (including SGrBs) under different maturities will be: 3-year (6.6%), 5-year (13.3%), 7-year (8.1%), 10-year (28.4%), 15-year (14.2%), 30-year (9.2%), 40-year (11.1%) and 50-year (9.2%), added the release. The government will continue to carry out the switching/buyback of securities to smooth the redemption profile, and it will continue to reserve the right to exercise the greenshoe option to retain an additional subscription of up to 2,000 crore against each of the securities indicated in the auction notifications, the release added. "Weekly borrowing through issuance of Treasury Bills in the third quarter (Q3) of FY 2025-26 is expected to be 19,000 crore for 13 weeks with issuance of 7,000 crore under 91 DTBs, 6,000 crore under 182 DTBs and 6,000 crore under 364 DTBs, respectively," added the release. To take care of temporary mismatches in Government payments and receipts, , the Reserve Bank of India has fixed the Ways and Mean Advances (WMA) limit for H2 of FY 2025-26 at 50,000 crore. (ANI)
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