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Centre Sets ₹7.86 Lakh Crore H2 FY27 Borrowing Plan
The government plans to borrow ₹7.86 lakh crore in the second half of FY27.
It will do this through 23 weekly auctions.
The money will come from bonds that last between three and 50 years.
Ten-year bonds will make up the biggest portion of the borrowing.
The government also plans to issue ₹15,000 crore in green bonds.
It will borrow another ₹23,000 crore each week using short-term Treasury Bills during the third quarter.
The Reserve Bank of India has set a ₹50,000 crore temporary borrowing limit for the government.
The government says its total borrowing for FY27 will be below the amount originally estimated in the Budget.
The government will borrow ₹7.86 lakh crore through 23 weekly auctions during October-March of FY27.
The borrowing will use securities maturing in three to 50 years, with 10-year bonds accounting for the largest share at 26.3%.
The plan includes ₹15,000 crore through Sovereign Green Bonds, along with continued security switches and buybacks.
The government plans to raise ₹23,000 crore weekly through Treasury Bills over 13 auction weeks in Q3 FY27.
The RBI set the H2 FY27 Ways and Means Advances limit at ₹50,000 crore, while total FY27 borrowing is reported as ₹1.20-₹1.21 lakh crore below the Budget Estimate.
- Who
- The central government, the Ministry of Finance and the Reserve Bank of India.
- What
- The government announced a ₹7.86 lakh crore H2 FY27 borrowing programme, including ₹15,000 crore in Sovereign Green Bonds.
- Where
- Through auctions of dated government securities and Treasury Bills.
- When
- During October-March of FY27; Treasury Bill borrowing is scheduled across 13 auction weeks in Q3 FY27. The borrowing calendar was released on September 25.
- Why
- To implement the FY27 borrowing programme, support fiscal consolidation and address temporary mismatches between government receipts and expenditure.
Key facts
- H2 dated-securities borrowing
- ₹7.86 lakh crore
- H2 auction schedule
- 23 weekly auctions
- Sovereign Green Bonds
- ₹15,000 crore planned
- Largest maturity share
- 10-year securities at 26.3%
- Q3 Treasury Bill programme
- ₹23,000 crore weekly over 13 auction weeks
- WMA limit
- ₹50,000 crore for H2 FY27
- FY27 borrowing reduction
- Reported as approximately ₹1.20 lakh crore or ₹1.21 lakh crore below the Budget Estimate in the supplied reports.
Sources
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