4. What are the objectives of public debt management in India? Examine the rationale for setting up an independent agency to manage government debt. Also highlight the issues that need to be addressed to ensure successful debt management by an agency other than the RBI.

Approach:

♤ Introduction should briefly define the concept of public debt management.

♤ Further, delineate the objectives of public debt management in India.

♤ Next part of the answer should examine the reasons for setting up of an independent agency to manage government debt.

♤ Finally, bring out issues that need to be addressed for success of independent authority for debt management.