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Govt mopped up Rs 81,000 crore till last week

The government has mopped up Rs 81,000 crore (Rs 810 billion) till last week, which is 57 per cent of the budget target of Rs 1,42,867 crore (Rs 1,428.67 billion) for the entire fiscal, according to PNB Gilts.

"With Rs 1,000 crore auction of 364 treasury bills, the government has completed Rs 81,000 crore (Rs 810 billion) of the gross borrowing against the budgeted Rs 1,42,867 crore (Rs 1,428.67 billion)," PNB Gilts said in a report on Monday.

The gross borrowing till August 23 was slightly higher than Rs 78,250 crore (Rs 782.50 billion) during the same period last fiscal.

After redeeming securities worth Rs 20,655 crore (Rs 206.55 billion), it said the net borrowings have been completed to the tune of Rs 60,345 crore (Rs 603.45 billion) till August 23, as against Rs 95,859 crore (Rs 958.59 billion) estimated for the entire fiscal.

Centre's net borrowing was at Rs 58,775 crore (Rs 587.75 billion) during the same period last fiscal.

Apart from the centre's borrowing programme, 28 states tapped the market for the second time.

"Given the high coupon on state loans and abundant liquidity, all the state loans were over-subscribed and Rs 4,478 crore (Rs 44.78 billion) was mobilised," it said.

Reserve Bank is also slated to issue two bonds totaling Rs 7,000 crore (Rs 70 billion) in the coming fortnight.

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