I would draw heavily from these discussions in flagging issues for consideration while the Indian experience would illustrate the complexities in addressing some of these issues in a specific country context. My address today initially provides an overview of the reasons advocated for the development of a bond market, followed by a second section giving the possible motivations for development of bond markets.
The third section explains the rationale for development of Government Securities market and the justification for the central bank to be actively involved in it. While section four outlines the key issues relating to the market for Government Securities, the fifth section mentions some aspects relating to the non-Government or corporate bond market.