IDEAS home Printed from https://ideas.repec.org/a/acg/journl/v8y2020i3p16-24.html
   My bibliography  Save this article

Ownership Pattern of Public Debt in India: A Study

Author

Listed:
  • B Pradeep Kumar

    (Government Arts & Science College, Ambalapuzha)

  • R Ramya

    (Sri Achutha Menon Government College)

Abstract

To bridge the inevitable gap between the expenditure and revenue of governments, public debt has been resorted to increasingly by the government all over the world. In India, too, public debt has been reckoned as a device though which governments attempt to garner enough resources for both developmental and non-developmental activities. The present paper looks into the change and pattern in the ownership of public debt in India in recent years. In recent times, there has been a slight decline in the State government securities issued in India. Provident Funds have become dominant and permanent owners of state government securities in Indi, especially in recent times. Commercial banks in India are the main owners of GOI dated securities. Half of the T-Bills have been held by the Commercial Banks in the country. Mutual Funds also have been buying the Treasury Bills on a large scale. Provident Funds (PFs) do not seem to be interested in engaging in Treasury Bills operations in the country.

Suggested Citation

  • B Pradeep Kumar & R Ramya, 2020. "Ownership Pattern of Public Debt in India: A Study," Shanlax International Journal of Economics, Shanlax Journals, vol. 8(3), pages 16-24, June.
    • Handle: RePEc:acg:journl:v:8:y:2020:i:3:p:16-24
    DOI: 10.34293/economics.v8i3.2428
    as

    Download full text from publisher

    File URL: http://www.shanlaxjournals.in/journals/index.php/economics/article/view/2428
    Download Restriction: no
    File URL: http://www.shanlaxjournals.in/journals/index.php/economics/article/view/2428/2663
    Download Restriction: no
    File URL: https://libkey.io/10.34293/economics.v8i3.2428?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Rangarajan, C. & Srivastava, D. K., 2011. "Federalism and Fiscal Transfers in India," OUP Catalogue, Oxford University Press, number 9780198070986.
    2. Boskin, Michael J, 1982. "Federal Government Deficits: Some Myths and Realities," American Economic Review, American Economic Association, vol. 72(2), pages 296-303, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kumar B, Pradeep & R, Ramya, 2020. "Ownership Pattern of Public Debt in India: A Study," MPRA Paper 103738, University Library of Munich, Germany, revised 20 May 2020.
    2. Beltrametti, Luca & Della Valle, Matteo, 2012. "The Implicit Pension Debt: Its Meaning and an International Comparison - Il debito pensionistico: significato e confronti internazionali," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 65(1), pages 15-38.
    3. D.K. Srivastava, 2023. "Evolving Contours of Centre-State Fiscal Relations: Inconsistencies, Ad-Hocism and Centralization," Working Papers 2023-239, Madras School of Economics,Chennai,India.
    4. Pinaki Chakraborty & Shatakshi Garg, 2018. "Fiscal pressure of migration and horizontal fiscal inequality: Evidence from Indian experience," WIDER Working Paper Series wp-2018-4, World Institute for Development Economic Research (UNU-WIDER).
    5. Xavier Timbeau, 2011. "Solidarité intergénérationnelle et dette publique," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(1), pages 191-212.
    6. B. Douglas Bernheim, 1987. "Ricardian Equivalence: An Evaluation of Theory and Evidence," NBER Chapters, in: NBER Macroeconomics Annual 1987, Volume 2, pages 263-316, National Bureau of Economic Research, Inc.
    7. Klaus Kaier & Christoph Müller, 2015. "New figures on unfunded public pension entitlements across Europe: concept, results and applications," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 42(4), pages 865-895, November.
    8. Marc Robinson, 1998. "Measuring compliance with the Golden Rule," Fiscal Studies, Institute for Fiscal Studies, vol. 19(4), pages 447-462, November.
    9. Berndt, Antje & Yeltekin, Şevin, 2015. "Monetary policy, bond returns and debt dynamics," Journal of Monetary Economics, Elsevier, vol. 73(C), pages 119-136.
    10. Boskin, Michael J., 1988. "Lessons from the United States Economy in the 1980s and their Applicability to Europe," CEPR Publications 244419, Stanford University, Center for Economic Policy Research.
    11. Michael J. Boskin & Marc S. Robinson & Terrence O' Reilly & Praveen Kumar, 1984. "New Estimates of the Value of Federal Mineral Rights and Land," UCLA Economics Working Papers 357, UCLA Department of Economics.
    12. Buiter, Willem H., 1984. "Measuring Aspects of Fiscal and Financial Policy," CEPR Discussion Papers 13, C.E.P.R. Discussion Papers.
    13. Luca Beltrametti & Matteo Della Valle, 2011. "Does the implicit pension debt mean anything after all?," CeRP Working Papers 118, Center for Research on Pensions and Welfare Policies, Turin (Italy).
    14. George J. Hall & Thomas J. Sargent, 2011. "Interest Rate Risk and Other Determinants of Post-WWII US Government Debt/GDP Dynamics," American Economic Journal: Macroeconomics, American Economic Association, vol. 3(3), pages 192-214, July.
    15. Thomas Holloway, 1989. "Present NIPA Saving Measures: Their Characteristics and Limitations," NBER Chapters, in: The Measurement of Saving, Investment, and Wealth, pages 21-100, National Bureau of Economic Research, Inc.
    16. Sthanu R. Nair, 2019. "India’s Agrarian Performance: A Comparative Analysis of UPA and NDA Regimes," Working papers 340, Indian Institute of Management Kozhikode.
    17. Michael J. Boskin, 1991. "Issues in the Measurement and Interpretation of Saving and Wealth," NBER Chapters, in: Fifty Years of Economic Measurement: The Jubilee of the Conference on Research in Income and Wealth, pages 159-184, National Bureau of Economic Research, Inc.
    18. Darshini J S & K Gayithri, 2019. "Fiscal dependency of States in India," Working Papers 433, Institute for Social and Economic Change, Bangalore.
    19. Pinaki Chakraborty & Shatakshi Garg, 2018. "Fiscal pressure of migration & horizontal fiscal inequality: Evidence from Indian experience," WIDER Working Paper Series 004, World Institute for Development Economic Research (UNU-WIDER).
    20. repec:hal:spmain:info:hdl:2441/5l6uh8ogmqildh09h61kh4poj is not listed on IDEAS
    21. Michael J. Boskin, 1988. "Issues in the Measurement and Interpretation of Saving and Wealth," NBER Working Papers 2633, National Bureau of Economic Research, Inc.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:acg:journl:v:8:y:2020:i:3:p:16-24. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: S.Lakshmanan (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.