Govt liabilities rise 3.74 per cent to Rs 133.22 lakh crore

The government's total liabilities increased by 3.74 per cent to Rs 133.22 lakh crore in the March quarter from Rs 128.41 lakh crore in the three months ended December 2021, according to the latest public debt management report. Total liabilities, including liabilities under the Public Account of the government, went up to Rs 1,33, 22,727 crore at the end of March 31, 2022. As of December 31, 2021, the total liabilities were Rs 1,28, 41,996 crore. The finance ministry released a report on Thursday said that public debt accounted for 92.28 per cent of the total outstanding liabilities at the end of March. It was at 91.60 per cent at the end of December last year. The report said the weighted average yield on primary securities rose to 6.66 per cent in the fourth quarter from 6.33 per cent in the third quarter of the current fiscal. The weighted average maturity of dated securities was higher at 17.56 years in Q 4 of FY 22.88 years in Q 3 of FY 22. The weighted average maturity of outstanding securities was higher at 11.71 years at the end of Q 4 of FY 22 as opposed to 11.69 years at the end of Q 3 of FY 22. The report said that crude oil prices were at an elevated level during the quarter, touching a high of USD 129.26 bbl at the end of the quarter, and closing at USD 104.40 bbl at the end of the quarter. It noted that the elevated level of crude prices contributed to the hardening of 10 year G-Sec yield in the domestic market. The report said the share of commercial banks was 37.75 per cent at the end of March, lower than 35.40 per cent at the end of December 2021, as a result of the ownership pattern of central government securities. The share of insurance companies and provident funds stood at 25.89 per cent and 4.60 per cent at the end of March. The share of mutual funds was 2.91 per cent at the end of March, against 3.08 per cent at the end of December 2021, while the share of RBI went down to 16.62 per cent from 16.92 per cent during the same period.