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Home Economy

Elephant Bonds

July 21, 2020
in Economy
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  • A High Level Advisory Group on Trade Policy (HLAG) headed by Surjit S Bhalla has recently suggested the government to issue ‘Elephant Bonds’. This will help India to recover up to $500 billion of black money that is stashed overseas.
  • Elephant Bonds is a class of proposed debt instruments in India.
  • An Elephant Bond is a Rupee denominated bond with 25 years maturity; and its fund is to be used exclusively for infrastructure
  • The committee has recommended making investment in such bonds compulsory for the people declaring undisclosed income.
  • People declaring undisclosed income will have to mandatorily invest 50% of that amount in these securities.
  • The move is also expected to bring down the real interest rate. It will also strengthen the rupee.

 

 

Tags: Prelims

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