The payments for interest and discount on MSS securities are not made from the MSS Account, but shown in the Union budget and other related documents transparently as distinct components under separate subheads. The MSS securities are indistinguishable from normal government Treasury Bills and dated securities.
My only point is that when making a major reform, such as a tax reform, the transition effects associated with implementing such a large change are nearly always unpredictable and cause short-term dislocation. But that is not a reason not to do them, otherwise we would never get any reform. Monetary policy I will now turn to monetary policy.