Indian Fiscal Budget 1997-98: Full Text


Indexed Bonds

  1. Several countries have used a variety of indexed bonds to provide investors an effective hedge against inflation and to enhance the credibility of anti-inflationary policies followed by the government. I believe the time is ripe for India to introduce such an instrument. I, therefore, propose to introduce a capital indexed bond where the repayment of the principal amounts will be indexed to inflation.

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