Government to borrow Rs 8.2 trillion in H1, Rs 150 billion via sovereign bonds

The Centre will raise Rs 8.2 trillion, or 51 per cent of the revised annual gross borrowing target of Rs 16.09 trillion, from the market in the first half of 2026-27, including Rs 150 billion through sovereign green bonds. The H1FY27 share in annual borrowings is lower than in recent years; it was 54 per cent in H1FY26. The GMB programme for H1 FY2027 is less front-loaded than that seen in recent years, which may help to cool the recent spike in yields. To manage temporary mismatches, the RBI has set the Ways and Means Advances (WMA) limit for H1FY27 at Rs 2.5 trillion, up from Rs 1.5 trillion a year ago.