Private bond placements have long accounted for the vast majority of debt sales in India’s credit market. A bigger public debt market should help reduce borrowing costs for issuers.
The bond market knows New Delhi is terrified of its wrath & is ignoring the simplest option of raising money on its own to fund states in the GST fight.
The risk of foreign currency borrowing can be minimised if govt and RBI stick to FRBM Act and inflation-targeting frameworks. A Public Debt Management Agency also needs to be set up.
This confrontation looks subcontracted—escalation to re-establish Pakistan's indispensability to outside capitals while squeezing Afghanistan back under an old paradigm.
CSE, one of India’s oldest bourses, is edging towards a voluntary exit. It could never recover from market manipulation scam that caused a payment crisis at exchange back in 2001.
Fresh details of operation conducted by IAF, Army have come out in gazette notification giving citations of those who were awarded Vir Chakra for their bravery.
Education, reservations, govt jobs are meant to bring equality and dignity. That we are a long way from that is evident in the shoe thrown at the CJI and the suicide of Haryana IPS officer. The film Homebound has a lesson too.
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