1 trillion 13 billion in the first quarter, 85 billion in the second, 1 trillion 9 billion in the third and 55 billion in the fourth.
What you should know
In the current financial year, the government is going to raise 3 trillion 62 billion rupees in domestic debt. The Public Debt Management Office has announced the domestic debt collection schedule of 1 trillion 13 billion rupees in the first quarter, 85 billion rupees in the second quarter, 1 trillion 9 billion rupees in the third quarter and 55 billion rupees in the fourth quarter.
The office is going to collect more than a billion in the first and third quarter and less than a billion in the second and last quarter. Head of Public Debt Management Office, Gopikrishna Koirala, said that due to sufficient liquidity in the financial system, low interest rates and the beginning of the financial year, the government also needs resources.
'Comparatively in the first quarter, the domestic debt has been raised for a long time. This is due to ample liquidity in the market and cheap interest rates. As the economic activity is higher in the third quarter, the government needs some more resources, he said, "The government has made a debt collection schedule by considering the need for resources, the liquidity and interest rate situation in the market, and the maturity period of debt collection instruments." According to the
schedule, the government is going to collect only 1 trillion 13 billion rupees in the first quarter through development bonds, citizen savings bonds and foreign employment savings bonds. Out of which, 1 trillion 10 billion rupees will be raised through development bonds with a maturity period of 3 to 11 years, 2.5 billion rupees through five-year citizen savings bonds and 500 million rupees through five-year foreign employment savings bonds.
In the second quarter, the government is scheduled to collect a total of 85 billion rupees in internal debt, which is 25 billion rupees through treasury bills and 60 billion rupees through three to 10-year development bonds. In the third quarter, 50 billion rupees through treasury bill, 56 billion rupees through three to nine-year development bonds, 2.5 billion rupees through five-year citizen savings bonds and 500 million rupees through five-year foreign employment savings bonds, totaling 1 trillion 9 billion rupees.
In the fourth quarter, the government is going to collect 55 billion rupees only through the treasury bill. For the current financial year, the government has allocated a budget of 19 trillion 64 billion 11 million rupees. Out of the total allocation, 11 trillion 80 billion 98 crores (60.1 percent), 4 trillion 7 billion 89 crores (20.8 percent) for capital and 3 trillion 75 billion 24 crores (19.1 percent) for financial arrangements.
The budget for the current fiscal year is 5.6 percent higher than the previous fiscal year's allocation and 18.2 percent higher than the revised estimate. In this year's total allocation, 4 trillion 17 billion 83 crores have been allocated for financial transfers to the state and local levels.
The government plans to collect 13 trillion 15 billion from revenue and 53 billion 45 billion from foreign grants for the total expenditure (budget) allocated for the current financial year. Even if the target amount can be collected from revenue and foreign grants, 5 trillion 95 billion 66 crores will be insufficient for the total expenditure (budget). The government is going to collect 2 trillion 33 billion 66 billion rupees from foreign loans and 3 trillion 62 billion rupees through internal loans to meet the insufficient amount.
In the last fiscal year, the government had set a target of collecting 5 trillion 47 billion public debt, including 3 trillion 30 billion domestic and 2 trillion 17 billion external. According to the Public Debt Management Office, 4 trillion 14 billion 19 crores, i.e. 75.72 percent of the annual target, has been collected till last May.
