Reforms to Expand Foreign Participation in G-Secs

• Package of tax and regulatory reforms to deepen India's sovereign debt market by drawing Foreign Portfolio Investors (FPIs) into Government Securities (G-Secs).
• Anchored on the Fully Accessible Route (FAR) introduced by RBI w.e.f. 1 April 2020, which allows non-residents unrestricted access to specified G-Secs.
• Tested overlap of monetary policy, fiscal financing, capital account management and exchange-rate stability — directly relevant to GS-III (Economy).