The government has mopped up Rs 1,26,034 crore (Rs billion) till last week taking the gross market borrowing to over 88 per cent of the budgeted Rs 1,42,867 crore (Rs 1,428.67 billion) for the entire fiscal.
With the auction of Rs 5,000 crore (Rs 50 billion) worth of government securities and Rs 1,000 crore (Rs 10 billion) 364-day treasury bills, the gross borrowing of the Centre stood at Rs 1,26,034 crore (Rs 1,260.34 billion), PNB Gilts said in a report on Monday.
The gross borrowing till last week was much higher than Rs 1,15,250 crore (Rs 1,152.50 billion) raised during the year-ago period, it said.
The government has so far redeemed securities worth Rs 40,915 crore (Rs 409.15 billion) of the estimated Rs 47,008 crore (Rs 470.08 billion) for 2002-03.
Net borrowings stood at Rs 85,119 crore (Rs 851.19 billion), which was 89 per cent of the budget estimate of Rs 95,859 crore (Rs 958.59 billion).
Andhra Pradesh state government mopped up Rs 294.65 crore (Rs 2.946 billion) during the last fortnight through auction of 10-year paper.
"Short-term outlook for the gilts market is optimistic," PNB gilts said.
Liquidity situation was 'comfortable' with forex reserves grossing $67 billion and rupee appreciating against the US dollar.
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