Finance Bill 2015: Clause 125 Establishes Public Debt Management Agency for Issuing Dematerialized Government Securities

Clause 125 of the Finance Bill, 2015 mandates the Central Government to authorize the Public Debt Management Agency to issue Government securities. These securities must be issued in a dematerialized form and adhere to prescribed terms and conditions. The Bill introduces Chapter VII, establishing the Agency to manage public debt efficiently, reduce costs, and maintain acceptable risk levels. The Agency's responsibilities include issuing securities, managing public debt transactions, and handling payments to security holders. The Central Government retains oversight and can direct the Agency, which is also exempt from taxes.

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