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of <h1>Finance Bill 2015: Central Government to Establish Public Debt Management Agency for Cost-Effective Debt Oversight</h1> The Public Debt Management Agency (PDMA) chapter in the Finance Bill, 2015, applies across India except Jammu and Kashmir unless adopted by the state. It allows the Central Government to establish the PDMA to manage public debt cost-effectively and within acceptable risk levels. The agency will be overseen by a Board and will handle tasks such as collecting public debt data, trading government securities, and managing debt transactions. The Central Government can issue directives to the agency, which is also exempt from taxes. Additionally, the agency is tasked with issuing and managing payments for government securities.
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