Logo


Going back on promises

The proposal for a Public Debt Management body announced by Finance Minister Arun Jaitley in the annual budget speech in February, has now been rolled back

Like its predecessor, the Narendra Modi government also seems to be following a policy of announcing reforms and then withdrawing it unilaterally. The proposal for a Public Debt Management body announced with much fanfare by the Finance Minister Arun Jaitley in the annual budget speech in February, has now been rolled back. "Since the RBI has been handling public debt management, the government in consultation with the RBI will prepare a detailed roadmap separating the debt management function and the market infrastructure from the RBI and having a unified financial market" ...