New Delhi, Mar 29 (IANS): The Union government plans to implement almost 58 per cent of its borrowing for 2023-24 during the first half of the forthcoming fiscal, according to its borrowing programme for the above-mentioned period, finalised in consultation with the RBI.

Out of the gross market borrowing of Rs 15.43 lakh crore projected for 2023-24 in the Union Budget, Rs 8.88 lakh crore (or 57.55 per cent) is planned to be borrowed in first half of the fiscal.

The borrowing is scheduled to be completed in 26 weekly tranches of Rs 31,000-39,000 crore.

The borrowing will be spread under 3, 5, 7, 10, 14, 30 and 40 year securities, official sources said.

The share of borrowing under different maturities will be: three-year (6.31 per cent), five-year (11.71 per cent), seven-year (10.25 per cent), 10 year (20.50 per cent), 14 year (17.57 per cent), 30 year (16.10 per cent), and 40 year (17.57 per cent).

The issuance of sovereign green bonds will be announced in the second half of 2023-24, they added.

The weekly borrowing through issuance of treasury bills in the first quarter of 2023-24 is expected to be Rs 32,000 crore with net borrowing of Rs 1.42 lakh crore during the quarter, against net borrowing of Rs 2.40 lakh crore in the first quarter of 2022-23.

There will be issuance of Rs 12,000 crore under 91 treasury bills, Rs 12,000 crore under 182 treasury bills, and Rs 8,000 crore under 364 treasury bills through each weekly auction to be conducted during the quarter.