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.
Rather than open offices in India, many UK firms are strengthening India teams & partnerships to meet expected demand for advice on international disputes, arbitration & regulatory matters.
Ottawa has handed over execution functions of critical defence projects to a CEO-led organisation for reducing procurement timelines and making it solely accountable for outcomes.
The Congress party’s abandonment of nationalism is the most intriguing aspect of its post-2014 politics. The real Congress was never a party of bleeding heart pacifists.
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