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of <h1>Finance Bill 2015: Clause 119 Establishes Public Debt Management Agency with Tax Exemption and Defines Its Functions</h1> Clause 119 of the Finance Bill, 2015, introduces definitions related to the establishment of the Public Debt Management Agency (PDMA). The Agency is tasked with minimizing public debt costs under the Central Government's oversight. The Board, comprising executive and nominee members, manages the Agency's affairs. The Agency's functions include managing public debt information, trading in government securities, and issuing these securities. It is also responsible for payments to security holders and may receive directions from the Central Government. Additionally, the Agency is exempt from taxes. Clauses 143 to 150 address the Senior Citizens' Welfare Fund.
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