Centre's gross borrowings stood at Rs 50,001 crore (Rs 500.01 billion) till June 13, down by over nine per cent from Rs 55,001 crore (Rs 550.01 billion) in the previous year, indicating fiscal prudence, PNB Gilts said.

Gross borrowings, including the Rs 7,000 crore (Rs 70 billion) mopped up under Centre-state debt swap scheme, till the second week of this month was 30.1 per cent of the Rs 1,66,230 crore (Rs 1,662.3 billion) budgeted for the whole year, it said.

With redemptions at Rs 13,288 crore (Rs 132.88 billion) till June 13, the net borrowings stood at Rs 36,712 crore (Rs 367.12 billion), which was down by about 15 per cent from Rs 42,984 crore Rs (429.84 billion) in the previous year period, PNB Gilts said.

Redemptions, however, rose by about 11 per cent from Rs 12,017 crore (Rs 120.17 billion) in the year-ago period, it said.

The net borrowings of the government till the second week of June was 34.2 per cent of Rs 1,07,194 crore (Rs 1,071.94 billion) budgeted for this fiscal, it added.

Of the gross borrowings till June 13, the mop up through the dated securities fell, while that through 364 day T-bills remained the same as compared to the previous year period.

The government had mopped up Rs 44,000 crore (Rs 440 billion) through dated securities, which fell by over 10 per cent from the previous year period's figure of Rs 49,000 crore (Rs 490 billion), while that through 364-day T-bills stood at Rs 6,001 crore (Rs 60.01 billion).

It said though redemptions rose in the case of 364-day T-bills till June 13, there was decline in the case of dated securities.

Centre redeemed dated securities worth Rs 7,287 crore (Rs 71.87 billion) till the mid of this month as compared to Rs 7,517 crore (Rs 75.17 billion) in the previous year period.