The Reserve Bank of India (RBI) plans to articulate a comprehensive debt management strategy. According to the annual report 2013-14, the key ingredients of this will be sound international practice and extending maturities to cater to the requirements of diverse investors.The focus shall also be on consolidation of public debt and reducing rollover risk through active switch/buyback operations.RBI believes with a Rs 6 lakh crore market-borrowing programme of the government, sovereign debt markets assume a vital role in the conduct of fiscal policies and have spillover effects. Deeper, wider, more liquid and efficient financial markets provide support to growth.

Source - http://www.business-standard.com