01014nam a22001097a 4500008004100000100001700041245006300058260003400121300003300155520068200188773003400870260430b           ||||| |||| 00| 0 eng d  aDas, Surajit  a Union Budget 2026–27: A Note on Public Finance in India  aEconomic & Political Weekly    a61(14), Apr 4, 2026: p.57-61  aThe interest payment component on past debt of the government as a proportion of gross domestic product is extremely high in India. This is primarily because of the very high effective interest rate on government borrowings. This can be reduced by changing the composition of the ownership of the government securities in the country. This is important for ensuring larger fiscal space for enhancing public spending on the social sector and capital expenditures. Developmental expenditures may be prioritised over ensuring an assured return of 7% to the domestic capital market in India.-Reproduced 

https://www.epw.in/journal/2026/14/budget-2026-27/union-budget-2026-27.html
  aEconomic & Political Weekly