Corporate bonds are priced as a spread over the risk-free rate. In India, the reference risk-free rate is unreliable as large institutions are mandated to buy and hold government bonds.
Only 19 out of 269 municipal corporations have issued bonds since SEBI guidelines were released in 2015. This represents less than 1% of total outstanding public-sector debt.
Other factors include easy availability of govt funds, lack of political will to improve service delivery & systemic absence of timely audits, says India Infrastructure Report 2023
Indore is issuing municipal bonds to the public to raise Rs 250 cr for the project. The civic body will also earn revenue by selling carbon credits, says Indore Smart City CEO.
In tactical terms, the shirtless protest was worse than a self-goal. Suddenly, the fiascos of the AI Summit were forgotten, and the Youth Congress’s disruption became the issue.
IAF is fine with accepting the aircraft with 'must-haves', even if some other steps remain pending, which may take at least another year, it is learnt.
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