New Delhi, Jun 02: Centre's total borrowings stood at Rs 40,000 crore till May, representing over 24 per cent of the budgeted borrowings for the fiscal, according to PNB Gilts. However, the gross borrowings in the first two months of this fiscal was down by around 17 per cent from Rs 48,001 crore in the corresponding period the previous year, the PNB Gilts said in a latest report.
Government's budgeted gross borrowings stand at Rs 1,66,230 crore for the whole year.
Of the Rs 40,000 crore gross borrowings, the mop up through dated-securities stood at Rs 35,000 crore as on May 31, down by almost 23 per cent from Rs 43,000 crore collected in the year-ago period, PNB Gilts said. The borrowings through 364 day T-bills stood marginally down at Rs 5,000 crore till May end this year as compared to Rs 5,001 crore in the previous year period.
During the fortnight under review, the most actively traded security was that of 8.07 per cent interest bearing with maturity in 2017, through which as much as Rs 10,422 crore was mopped up.
Redemptions, however, rose by over nine per cent to Rs 12,288 crore in the first two months of this fiscal as against Rs 11,267 crore in the previous year period. Net borrowings showed an impressive around 25 per cent dip to Rs 27,712 crore till May as compared to Rs 36,734 crore in the comparable period in 2002-03.
The net borrowings in the first two months of this financial year represented around 26 per cent of the budgeted borrowing of Rs 1,07,194 crore for 2003-04. Bureau Report