India sets ₹7.86 lakh crore borrowing plan for October–March
The second-half programme includes ₹15,000 crore in sovereign green bonds and 23 weekly auctions.
The Union government plans to raise ₹7,86,000 crore through its market-borrowing programme in the second half of financial year 2026–27, according to a Finance Ministry announcement issued on 25 September after consultation with the Reserve Bank of India.
The programme includes ₹15,000 crore of sovereign green bonds. Borrowing is scheduled across 23 weekly auctions, with securities ranging from three to 50 years. Ten-year securities account for the largest listed maturity share, at 26.3%, followed by 15-year securities at 17.6%.
The ministry puts expected borrowing through dated securities for the full financial year at ₹15,99,506 crore, compared with the budget estimate of ₹17,20,000 crore. It also plans ₹23,000 crore of Treasury-bill issuance per week across 13 auction weeks in the third quarter.
These are issuance plans, rather than completed auction results. The government retains an option to accept additional subscriptions of up to ₹2,000 crore for each security identified in an auction notification. Actual auction outcomes and subsequent official changes will determine how the programme is executed.