The Rajasthan Public Debt Act, 1956

The Rajasthan Public Debt Act, 1956

The Rajasthan Public Debt Act, 1956, regulates government securities and public debt within the state of Rajasthan. It applies to the Rajasthan state government and any individuals or institutions holding state-issued securities. By extending the national Public Debt Act of 1944 to Rajasthan, this law ensures that the state's public borrowing is governed by the same standardized, reliable legal framework used at the central level. This matters because it provides clarity, legal security, and trust for investors lending money to the state government, while giving local authorities the administrative power to manage debt and resolve any legal challenges smoothly.

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