Home
Fight Corruption
Law and Order
Parliament
Power
CBI News
Consumers
Aviation
Banking
Industry
Telecom
PSU News
 
Directory
Prez, PM, Cabinet and MoS Independent
Chief Ministers of States
Page last updated at 08:37:21 IST, Sunday, 27 January 2013 News Feeds ::
E-mail this to a friend Printable version Follow merisarkar on Twitter Bookmark and Share
Govt's public debt rose to over Rs 40 lakh crore
Merisarkar News Service New Delhi, January 26, 2013
 
Manmohan-India-Debt.jpg
Govt. borrowed Rs. 5.1 lakh cr this fiscal
The govt's total public debt in the October-December period in this financial year grew by 3.6 percent to Rs 40,48,219 crore from Rs 39,06,828 crore in the previous quarter.

"This represented a quarter-on-quarter increase of 3.6 per cent (provisional) compared with an increase of 3.8 per cent in the previous quarter (Q2 of FY13)," the Quarterly Report on Debt Management released by the Finance Ministry said on Thursday.

The total debt excludes liabilities that are not classified under public debt. Internal debt constituted 90.7 percent of public debt, compared with 90.5 percent at the end of the September quarter.

The outstanding internal debt at Rs 36,69,823 crore constituted 36.1 percent of GDP compared with 34.8 percent at September 2012 end.

The report further said the liquidity conditions in the economy remained tight during the quarter with the liquidity deficit.

The RBI reduced CRR by 25 basis points, effective 3rd November 2012 and purchased securities worth Rs 39,057 crore through OMO auctions during the quarter.

The net amount provided under Liquidity Adjustment Facility (LAF) operations increased almost consistently during the quarter, it added.

The cash position of the government during third quarter was comfortable and remained in positive territory for the entire quarter, the report said, adding the issuances of treasury bills were reduced during the quarter in view of the cash position.

On slowdown in net inflows from foreign investment during October-November, the report said that the decline was mainly on account of FDI as gross investment into India showed lower inflow while outbound investment increased.

Gross tax collections during April-November at 50.5 percent of budget estimate (BE) were marginally lower than 50.7 percent a year ago.

The report revealed that non-tax revenue at 46.3 percent of Budget Estimates was lower than 57.7 percent in the same period of the previous year.

The debt report said that total expenditure showed containment as percent of BE at 58.2 percent during April-November 2012-13 as compared with 60.5 percent during the corresponding period of the previous year.

Expenditure reduction in terms of percentage to BE was seen under both categories -- revenue and capital.

"As a result of expenditure containment outweighing the revenue shortfall, revenue deficit and fiscal deficit during April-November 2012 at 91.2 per cent and 80.4 per cent of BE were lower than 91.3 per cent and 85.6 per cent, respectively, during the same period a year ago," it added.

Slowdown in net capital inflows coupled with pressure in trade account balance strained the exchange rate leading to depreciation of Rupee from 52.7 (per USD) at end-September 2012 to 54.5 at end-November 2012.

Pressure on Rupee continued in December and it closed at 54.8 at end-December 2012.

In the third quarter, the government issued dated securities worth Rs 1.55 lakh crore taking the borrowings during April-December 2012 to Rs 5.1 lakh crore constituting 89.5 percent of Budget Estimates for the fiscal.
 
MORE RELATED NEWS
  GoM set up to shape new fertilizer subsidy policy
  Government slaps anti-dumping duty on Chinese telecom equipments
  Govt aims to provide fuel to each household: Murli Deora
  Govt committed to protect interest of SC/STs
  Govt denies Swamy's allegations against Karti Chidambaram
  Govt gives 1% interest subvention on housing loans upto Rs. 10 lakhs
  Govt hikes DA by 10 per cent for central government employees and pensioners
  Govt in-principle agrees to decontrol diesel prices
  Govt makes hallmarking of gold compulsory
  Govt reviews drastic fall in exports; Anand Sharma briefs PM
  Govt sets up an Inter-Ministerial-Group to prevent leak of tapped conversations
  Govt suspends onion exports as its prices shoot up
  Govt to disclose names of income tax defaulters: Pranab Mukherjee
  Govt to import food items to deal with drought: Pranab
  Govt to impose penalty of up to Rs 2 crore on unlawful phone tapping
  Govt to take difficult decisions in coming months: FM
  Govt. allows duty-free import of sugar till 31 December
  Govt. has no role in petrol price increase: FM
  Govt. has repealed 415 redundant laws: Khurshid
  Govt. ready to discuss ex CAG official's claim
  Govt. rejects opposition charge on spectrum allocation
  Govt. to create data bank of Indians living abroad
  Govt. to infuse Rs 30,000 crore in Air India
  Govt. to invest Rs 70,000 crore in public sector steel companies in two years
  Govt. urges automobile industry to boost production
  Govt. will examine the issue of Television Ratings
TOP STORIES
 
POLL
Are you satisfied with the Modi government's handling of Kashmir flood?
Yes   No
 
 

Copyright © : 2009 Meri Sarkar. New Delhi, India.