Page 175 - DECO404_PUBLIC_FINANCE_HINDI

bdkbZ—15% yksd ½.k% lkoZtfud vkSj futh ½.k osQ vFkZ ,oa bldh lhek,¡

Hkfo"; dh frfFk esa djuh gksrh gSA ijUrq v'kksè; ;k csfe;knh Í.k dh fLFkfr esa ljdkj dks osQoy C;kt dh uksV
gh vnk;xh fu;fer :i ls djuh gksrh gSA
'kksè; ;k fe;knh Í.kksa dks vYidkyhu] eè;dkyhu rFkk nh?kZdkyhu Í.kksa osQ :i esa iqu% oxhZÑr fd;k tk
ldrk gSA vYidkyhu Í.k (short term debts) 3 ls 9 ekg dh vofèk osQ chp ifjiDo (mature) gks
tkrs gSa] tSls jktdks"k i=k (Treasury Bills)A ,sls Í.kksa ij C;kt dh nj lkekU;r% de gh gksrh gSA
nh?kZdkyhu Í.k (long term debts) vkerkSj ij 10 o"kZ dh vofèk osQ ckn ns; ;k ifjiDo gksrs gSa vkSj bu
ij C;kt dh nj Å¡ph gksrh gSA eè;dkyhu Í.k (medium term debts) vYidkyhu vkSj nh?kZdkyhu vofèk
osQ chp vFkkZr~ yxHkx 5 o"kZ ckn ifjiDo gksrs gSa vkSj budh C;kt dh nj Hkh eè;e ntZs dh gksrh gS] vFkkZr~
u cgqr vfèkd vkSj u cgqr deA

(4) fufèktU; rFkk vfufèktU; Í.k (Funded and Unfunded Debt)
ljdkjh Í.kksa dks fufèktU; rFkk vfufèktU; vFkok vLFkk;h Í.k (funded and unfunded of floating
debts) osQ :i esa Hkh oxhZÑr fd;k tkrk gSA fufèktU; Í.k nh?kZdkyhu Í.k gksrs gSaA bu Í.kksa dh vnk;xh
;k rks de ls de ,d o"kZ ckn dh tk ldrh gS vFkok ;g Hkh gks ldrk gS fd bl lEcUèk esa fcYoqQy gh
ok;nk u fd;k tk,A vU; 'kCnksa esa] fufèktU; Í.k os Í.k gksrs gSa] tks ;k rks ,d o"kZ ckn izfrns;
(redeemable) gksrs gSa vFkok fcYoqQy gh izfrns; ugha gksrsA vfufèktU; Í.k os Í.k gksrs gSa] ftudk Hkqxrku
,d o"kZ osQ vUnj&vUnj dj fn;k tkrk gSA jktdks"kh; ckW.M (treasury bonds) vfufèktU; Í.k gksrs gSa]
D;ksafd ;s rhu ;k N% ekg osQ fy, fn;s tkrs gSa vkSj budh vofèk ,d o"kZ ls vfèkd rks gksrh gh ughaA
rFkkfi] ;gk¡ ;g ckr mYys[kuh; gS fd fufèktU; Í.kksa dh fLFkfr esa] ljdkj ij bl ckr dk nkf;Ro gksrk
gS fd og Í.knkrk dks C;kt dh ,d fuf'pr jde fu;fer :i ls vnk djrh jgs_ gk¡ muosQ ewyèku dh
vnk;xh dh ckr iw.kZr;k ljdkj dh bPNk ij NksM+ nh tkrh gSA vr% bu Í.kksa dh fLFkfr esa Í.knkrk ;k ckW.M
osQ èkkjd dks blosQ vfrfjDr vkSj dksbZ vfèkdkj ugha gksrk fd og èkujkf'k ij C;kt ysrk jgs] tks fd mlus
ljdkj dks mèkkj nh gSA

(5) ,sfPNd vkSj vfuok;Z Í.k (Voluntary and Compulsory Loans)

ljdkjh Í.k lkekU;r% ,sfPNd izÑfr osQ gksrs gSa vkSj O;fDr;ksa rFkk laLFkkvksa dks ,sfPNd :i ls ljdkjh ckW.M
[kjhnus osQ fy, fu;fU=kr fd;k tkrk gSA vktdy vfuok;Z Í.kksa dk dksbZ fo'ks"k izpyu ugha gSa ijUrq ;q¼ tSls
ladVdky osQ volj ij ljdkj Í.k nsus osQ fy, yksxksa ij ncko Mky ldrh gSA ljdkj eqnzk&LiQhfr dh fLFkfr
esa Hkh ,slk dj ldrh gS] rkfd yksxksa osQ gkFkksa esa ls Ø;&'kfDr dh ek=kk de gks losQ vkSj c<+rh gqbZ dherksa
dks jksdk tk losQA vfèkdka'k ekeyks esa ljdkj }kjk fy, tkus okys Í.k vfrnÙk (over-subscribed) gksrs
gSa] D;ksafd ljdkj dh lk[k (credit) izkbosV O;fDr;ksa vFkok dEifu;ksa dh vis{kk dkiQh vPNh gksrh gS vkSj
;gh dkj.k gS fd vU; izdkj osQ Í.k&i=kksa osQ eqdkcys ljdkjh izfrHkwfr;ksa ;k Í.k&i=kksa (government
securities) ij C;kt dh nj uhph gksrh gSA ljdkjh Í.k&i=kksa dks fuos'k (investment) osQ fy, loksZÙke
Í.k&i=k ;k izfrHkwfr ekuk tkrk gSA fdUrq ljdkjh izfrHkwfr;ksa ij tc C;kt dh nj cgqr de gksrh gS rks ljdkj
dks turk ls ,sfPNd :i ls Í.k feyuk oqQN dfBu gks tkrk gS vkSj bl fLFkfr esa mls vius izHkko dk mi;ksx
djuk gksrk gSA

(6) lwn lfgr o lwn jfgr Í.k (With rate of interest and Without rate of interest)
lwn lfgr Í.kksa ij ljdkj fuf'pr vofèk osQ i'pkr~ Í.knkrkvksa dks fuf'pr nj ls C;kt nsrh gS] tcfd
lwn&jfgr Í.kksa ij ljdkj dks dksbZ C;kt ugha nsuk iM+rkA

LOVELY PROFESSIONAL UNIVERSITY
LOVELY PROFESSIONAL UNIVERSITY
LOVELY PROFESSIONAL UNIVERSITY 169
LOVELY PROFESSIONAL UNIVERSITY
LOVELY PROFESSIONAL UNIVERSITY