Ownership Pattern of Public Debt in India: A Study

  • B Pradeep Kumar Head and Assistant Professor of Economics Government Arts & Science College, Ambalapuzha, (Affiliated to University of Kerala), Kerala, India
  • R Ramya Head and Assistant Professor, Department of Economics, Sri. Achutha Menon Government College, Thrissur, Kerala, India
Keywords: Public Debt, Ownership of PD, Commercial Banks (CBs), Insurance Companies (ICs), Mutual Funds (MFs), Provident Funds (PFs), GOI Dated Securities, Treasury Bills (TBs)


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.

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How to Cite
Pradeep Kumar, B., & Ramya, R. (2020). Ownership Pattern of Public Debt in India: A Study. Shanlax International Journal of Economics, 8(3), 16-24. https://doi.org/10.34293/economics.v8i3.2428