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Public Debt Management in India and Related Issues

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  • Lakshmanan L
  • R Kausaliya

Abstract

This study focuses on the marketable domestic public debt of the Government of India (GoI) in terms of size, magnitude, policy and approach followed and also discusses issues and challenges on debt management. Though various factors decide the yield in the primary auction, which include the growth in the economy, market conditions, ruling interest rate, long term perspective on the inflation expectations, etc., in a deficit liquidity scenario, the main determinants may be the ruling short term interest rate (repo, MSF) that determines the cost of fund and the availability of market liquidity. Thus, how far these short term factors influence the yield in the primary auctions is the focus of this paper.

Suggested Citation

  • Lakshmanan L & R Kausaliya, 2015. "Public Debt Management in India and Related Issues," Working Papers id:7255, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:7255
    Note: Institutional Papers
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    References listed on IDEAS

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    2. Afonso, António & Martins, Manuel M.F., 2012. "Level, slope, curvature of the sovereign yield curve, and fiscal behaviour," Journal of Banking & Finance, Elsevier, vol. 36(6), pages 1789-1807.
    3. Favero, Carlo & Pagano, Marco & von Thadden, Ernst-Ludwig, 2010. "How Does Liquidity Affect Government Bond Yields?," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 45(1), pages 107-134, February.
    4. Adrian Van Rixtel & Gabriele Gasperini, 2013. "Financial crises and bank funding: recent experience in the euro area," BIS Working Papers 406, Bank for International Settlements.
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    Cited by:

    1. Qaiser Munir & Sook Ching Kok & Winnie Abdulnasir, 2016. "Public debt sustainability and economic growth in Malaysia: Threshold and causality analysis," Proceedings of International Academic Conferences 5306868, International Institute of Social and Economic Sciences.
    2. repec:agr:journl:v:4(605):y:2015:i:4(605):p:189-198 is not listed on IDEAS

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