Lok Sabha Question No. 53 (STARRED), answered on 2016-02-26
Subject: Public Debt Management Authority
Ministry: FINANCE
Asked by: FEROZE VARUN GANDHI

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS

## LOK SABHA ADMITTED STARRED QUESTION NO. *53 TO BE ANSWERED ON FRIDAY, THE 26 TH  FEBRUARY, 2016 PHALGUNA 7, 1937 (SAKA)

## Public Debt Management Authority

## *53. SHRI FEROZE VARUN GANDHI: SHRI SULTAN AHMED:

Will the Minister of Finance ( वित्त मंत्री ) be please to state:

(a)   the public debt as on 1st January, 2016 along with steps taken by the Government to lower the same;

(b)   whether the Government/Reserve Bank of India (RBI) has any proposal to establish a Public Debt Management Authority (PDMA);

- (c)   if so, the details thereof along with the salient features of the proposed PDMA; and
- (d) the time by which the said agency is likely to be set up?

## ANSWER

FINANCE MINISTER                                                                    (SHRI ARUN JAITLEY)

(a) To (d): A statement is placed on the table of the House

Statement  referred  to  in  reply  to  LOK  SABHA  starred  question  No.  *53  for answer on FRIDAY, THE 26 TH FEBRUARY, 2016 raised by SHRI  FEROZE  VARUN  GANDHI  and  SHRI  SULTAN  AHMED  regarding Public Debt Management Authority

| Public Debt* Position of Government of India                                                        | Public Debt* Position of Government of India                                                        | Public Debt* Position of Government of India                                                        | Public Debt* Position of Government of India                                                        |
|-----------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------|
| As on                                                                                               | 31.3.2015 (RE)#                                                                                     | 31.3.2016 (BE)#                                                                                     | ( ` crore) 31.12.2015 (Provisional)                                                                 |
| Public Debt                                                                                         | 4970186                                                                                             | 5503676                                                                                             | 5299254                                                                                             |
| of which                                                                                            |                                                                                                     |                                                                                                     |                                                                                                     |
| Internal Debt                                                                                       | 4775900                                                                                             | 5298217                                                                                             | 5097016                                                                                             |
| External Debt##                                                                                     | 194286                                                                                              | 205460                                                                                              | 202238                                                                                              |
| * -Public Debt, as defined in Annex 5(i) in Receipt Budget 2015-16                                  | * -Public Debt, as defined in Annex 5(i) in Receipt Budget 2015-16                                  | * -Public Debt, as defined in Annex 5(i) in Receipt Budget 2015-16                                  | * -Public Debt, as defined in Annex 5(i) in Receipt Budget 2015-16                                  |
| # - Source Receipt Budget of Union Budget 2015-16 ##- External debt are at historical exchange rate | # - Source Receipt Budget of Union Budget 2015-16 ##- External debt are at historical exchange rate | # - Source Receipt Budget of Union Budget 2015-16 ##- External debt are at historical exchange rate | # - Source Receipt Budget of Union Budget 2015-16 ##- External debt are at historical exchange rate |

Government of India (GoI) is adhering to fiscal consolidation path, i.e. a policy aimed at reducing government deficits and debt. The Government is continuously  targeting  a  lower  level  of  fiscal  deficit  and  revenue  deficit  as percentage of GDP.

In  the  Budget  session  2015,  provisions  relating  to  setting  up  of  a  Statutory Public Debt Management Agency were withdrawn from the Finance Bill, 2015. It was stated that Government, in consultation with RBI, will prepare a detailed roadmap separating the debt management functions. No final decision has been taken in the matter.

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