On Friday, the weekly auction of government securities held by the central government borrowed Rs 24,000 crore through securities carrying a tenure of two years, five years, 14 years and 30 years, of which the two-year security was new, Care Ratings said.

“The notified amount of the auction was raised for the four securities. For the last ten weekly auctions, the notified amount of the auction was raised with no devolutions on primary dealers, nor was the greenshoe (oversubscription) option exercised,” it said.

Total market borrowings by the central government during 9 April-26 November of FY22 is Rs 8.94 trillion, 6 per cent less than that in the corresponding period of FY21. The amount raised so far in FY22 is 74 per cent of the total budgeted borrowing limit of Rs 12.05 trillion for the fiscal year. Total devolvement to the primary dealers so far in FY22 is Rs 0.76 trillion, which is 8.5 per cent of the total borrowings.

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The quantum of over-allotment so far in FY22 totalled Rs 0.60 trillion or 6.7 per cent of the total borrowings.

According to Care Ratings, the 14- year security accounts for the largest share of borrowings at 21 per cent of the total so far, the current financial year. It is followed by the 10-year security that has a share of 19 per cent, and 71 per cent of the borrowings carry a tenure of fewer than 15 years. The long-term borrowings–30 and 40 years account for around 30 per cent of the borrowings.