Consider the following: I. Market borrowing II. Treasury bills III. Special securities issued to RBI Which of these is/are component(s) of internal debt?

Internal debt refers to the part of the total government debt that is owed to lenders within the country. It consists of various instruments used by the government to raise funds from the domestic market.

Market borrowings involve the government raising money through the sale of dated securities or bonds to the public and financial institutions.

Treasury bills are short term debt instruments issued by the government to manage liquidity and meet short term financial requirements.

Special securities issued to the RBI include instruments like non marketable securities which represent a form of borrowing from the central bank.

Since all three items represent obligations of the government to domestic entities, they are all integral components of internal debt. Therefore, option D is the correct answer.