This book is a comprehensive analysis of the implications of rising
public debt in India. It specifically investigates the implications
of domestic debt on consumption, the effect of monetised debt on
prices, the long-term relationship between domestic debt and
growth, and the separation of debt and monetary management. It
studies data on debt in India from 1951 to 2017, and covers a wide
canvas of issues related to debt management and important
developments in the government securities market. It discusses
trends in domestic debt, and provides a descriptive review of the
major components of public debt. The book presents a close
theoretical discussion on the Ricardian equivalence hypothesis, an
important concept both historically and in contemporary literature
on public debt. The implications of domestic debt delineated in the
objectives are empirically analysed.
General
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