Government of India drops plan for separate debt management agency
The Dollar Business Bureau In a move that creates comfort for the Reserve Bank of India (RBI), the Ministry of Finance, on Thursday, sought to drop from the Finance Bill 2015, the proposal to set up a separate Public Debt Management Agency (PDMA), outside the ambit of the RBI. Finance Minister Arun Jaitley, has said to have made a statement to this effect while initiating a debate on Finance Bill in Lok Sabha on Thursday. The move comes in view of the RBI’s role as a government’s fund raiser and a money regulator in the Indian economy. However, the ministry’s consultations are on with the RBI over the preparation of a roadmap to pursue a separate debt management agency in line ...
