Government’s Borrowing Plan for the second half of FY 2026-27
The Government of India, in consultation with the Reserve Bank of India, plans to borrow ₹7,86,000 crore in the second half of FY 2026-27 through 23 weekly auctions. This amount includes ₹15,000 crore via Sovereign Green Bonds. Additionally, the RBI has set the Ways and Means Advances limit at ₹50,000 crore for H2 of FY 2026-27.
Why It Matters
This borrowing plan and market borrowing data are relevant for banking, economy, and UPSC aspirants studying fiscal policy and government debt management.
In Simple Words
The Government of India and the Reserve Bank of India announced a borrowing plan of ₹7,86,000 crore for the second half of FY 2026-27. This includes ₹15,000 crore raised through Sovereign Green Bonds.
The funds will be raised through 23 weekly auctions across various tenors ranging from 3 to 50 years. The government also set the Ways and Means Advances limit at ₹50,000 crore to handle temporary cash mismatches.
Key Points
- Government to borrow ₹7,86,000 crore in H2 of FY 2026-27 in consultation with RBI.
- Includes Sovereign Green Bonds issuance of ₹15,000 crore.
- Total expected market borrowing for FY 2026-27 is ₹15,99,506 crore.
- Gross market borrowing in H2 to be completed through 23 weekly auctions.
- Borrowing spread over tenors of 3, 5, 7, 10, 15, 30, 40, and 50 years.
- Q3 FY 2026-27 T-Bills borrowing expected at ₹23,000 crore per week.
- Ways and Means Advances (WMA) limit for H2 fixed at ₹50,000 crore.
Exam Angle
A. ₹7,86,000 crore
Source: Press Information Bureau