The RBI study said these entities can rely on their stable and longer-term revenue profile in issuing debt securities, especially ling-term debt instruments. Such debt instruments helps set important benchmarks for the longer and of the debt market and provide attractive opportunities for contractual saving institutions. This objective may be met by devolving investment responsibilities to autonomous agencies, which are better positioned to gauge users’ investment priorities.
In the case of the railways as well as public sector road transport services, there is a need for systematic pruning of those subsidised services that do not reach the target groups, it added.
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