Overview
- The Finance Ministry, in consultation with the RBI, unveiled the April–September plan Friday, setting Rs 8.20 lakh crore to be raised via 26 weekly auctions with Rs 28,000–34,000 crore each week.
- Sales will span 3- to 50-year bonds, with about 29% in 10-year notes, and include Rs 15,000 crore of Sovereign Green Bonds to fund clean projects.
- Post-Budget switches lowered the annual gross target to Rs 16.09 lakh crore from Rs 17.20 lakh crore, with 51% to be raised in the first half.
- Debt management will use buybacks and monthly switch auctions to smooth big repayments, and auctions carry a greenshoe of up to Rs 2,000 crore per bond.
- Short-term cash needs are covered by weekly Q1 Treasury bills of Rs 24,000 crore split across 91-, 182- and 364-day bills, with the RBI setting a Rs 2.50 lakh crore Ways and Means limit, a temporary overdraft for the Centre.