Mohanty, M.S. creator Raje, Nishita text xu| 1998 continuing ng p.269-80 Small saving schemes involve both an explicit and implicit cost to the government. The implicit cost, which arises from several tax concessions offered on these investments not only introduces distortion to the relative return of various assets in the financial market but also gives rise to high effective cost of borrowing for the government. This paper examines the nature and extent of hidden cost of small savings and explores the possibility of reducing these costs in India. - Reproduced Savings - India Savings Reserve Bank of India Occasional Papers 180718