Centre should charge for guarantee

Only PSUs can raise money cheaply today since it is assumed that the government won't let them default

My father taught me that humans innately trust others because without it much of day-to-day life would not function. Societies build on such trust by creating contract enforcement mechanisms that incentivise fair play. 

In the borrowing and lending space, credit agencies build on that trust by providing independent credit ratings to the borrowing programme of corpora­tes. However, due to their shortcomings, the “trust” on the efficacy of such ratings has been low. Ant cu­r­rently, it is at an all-time low due to hyper-risk aversion. 

Consider the AAA (read as triple-A) rating which is explained as “Instruments with this rating are