Treasury Bills (T-Bills)
Debt & Borrowing Intermediateखजाना बिल
Definition
Treasury bills are short-term government securities with maturities of 91 days, 182 days, or 364 days. They are issued at a discount to face value and redeemed at par. T-bills are used for short-term borrowing needs and cash management. They are highly liquid and considered risk-free.
Related Budget Terms
Why Treasury Bills (T-Bills) Matters
Understanding treasury bills (t-bills) is essential for anyone following government finances, preparing for competitive exams, or analysing India's economic policy. This concept directly affects how the government allocates resources and plans its fiscal strategy.
In the context of India's Union Budget 2026-27, with a total size of Rs 53.47 lakh crore, terms like treasury bills (t-bills) help citizens and analysts evaluate whether the government is on the right fiscal path. The numbers in the budget are only meaningful when one understands the underlying concepts.
For UPSC aspirants, treasury bills (t-bills) is frequently tested in both Prelims and Mains, particularly in Paper III (Economic Development). For CA and MBA students, this concept appears in public finance and macroeconomics courses.
Explore Budget Data
Explore More Budget Terms
Browse our glossary of 100+ government budget terms