ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Internal Public Debt of Government of India-Growth and Composition

This paper analyses the growth and composition of the internal public debt of the government of India during the period 1970-71 to 1987-88. Discussing the concept and measurement of public debt, the authors point out thai the budget classification does not provide a proper measure of the government's internal debt, tending to over-estimate it in some respects and under-estimate it in others. The authors note a significant change in the trend of public debt in the eighties as compared to the seventies and discuss the proximate causes and policy implications of this change.

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