New Delhi:
The Centre is expected to finalise its government borrowing calendar for the second half of the current financial year, covering the period from October to March.
The government had planned gross borrowing of Rs 16.09 lakh crore for the financial year ending March 2027. Of this, around Rs 7.79 lakh crore had been raised by September, leaving approximately Rs 7.96 lakh crore to be raised during the second half, according to market sources.
The borrowing plan is being watched closely by bond market participants, particularly amid changes in banking-system liquidity and movements in government bond yields.
Market participants have suggested adjustments to the maturity profile of government securities, including greater emphasis on shorter-dated three-year and five-year bonds. The share of ultra-long-term bonds is also under discussion.
The Reserve Bank of India has been managing liquidity conditions through open-market bond sales and other measures. The government’s borrowing programme for the second half will therefore be closely monitored by investors for its potential impact on bond yields, liquidity and the wider financial market.