Govt total liabilities rose by 2.15% to ₹128.41 lakh crore in December quarter

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The total liabilities of the government of India rose by 2.15% to 128.41 lakh crore during Q3 of FY22, according to the Union finance ministry’s quarterly report on public debt management released on Monday. 

As per the report, public debt accounted for 91.60% of total outstanding liabilities at the end of December 2021 as against 91.48% at the end of September 2021. Nearly 29.94% of the outstanding dated securities had a residual maturity of less than five years.

In the same period, the central government issued dated securities worth 2.88 lakh crore as against 2.83 lakh crore in the corresponding quarter of the previous year. During the third quarter of the current financial year, repayments stood at 75,300 crore.

The weighted average yield of primary issuances increased to 6.33% in Q3 FY22 from 6.26% in Q2 of FY22. The weighted average maturity of new issuances of dated securities was higher at 16.88 years in Q3 of FY22 as compared to 16.51 years in Q2 of FY22, the Finance Ministry data showed.

Between October and December 2021, the government did not raise any amount through the Cash Management Bills. The Reserve Bank did not conduct Open Market operations for government securities during the quarter, as per the finance ministry. 

The net daily average liquidity absorption by RBI under Liquidity Adjustment Facility (LAF) including Marginal Standing Facility and Special Liquidity Facility was at 7,43,033 crore during the quarter. 

Retail inflation, as per the Headline Consumer Price Index (CPI), increased from 4.48% in October 2021 to 5.66% in December 2021, which further increased to 6.01% in January 2022. The increase in retail inflation was mainly on account of an increase in fuel and light inflation. 

The index of industrial production (IIP) witnessed a positive growth of 4.0% in October 2021 as compared to 4.4% registered in September 2021, largely due to the low base effect. The IIP continued to show healthy growth of 1.3% in November and 0.4% in December

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