Need separate debt management cell in Punjab

Apropos of ‘How Punjab can contain its debt burden’; the state may consider establishing an independent Public Debt Management Cell as an interim arrangement. A similar cell is working at the Centre under the Department of Economic Affairs, Ministry of Finance. It will help in the execution of efficient cash management practices. Later, the state can establish a permanent Public Debt Management Agency that can plan domestic borrowings for the government. It can be tasked to manage the state’s liabilities, monitor cash balances, improve cash forecasting, advice on investment and capital market-related operations, undertake R&D on debt and risk assessment and develop adequate procedures. Help can be taken from other stakeholders and…