State budgets too receive a certain degree of attention and coverage, albeit far less than the Union budget. Innovation can help double the value of outstanding corporate bonds in the domestic market to Rs 65-70 lakh crore by March 2025, rating agency Crisil said on Wednesday in its yearbook on the Indian debt market. However, demand is expected to be Rs 60-65 lakh crore, which means foreign capital will be necessary to bridge the Rs 5 lakh crore gap, it said.
The National Infrastructure Pipeline envisages Rs 111 lakh crore of investments between fiscals 2020 and 2025 for infrastructure build-out.
Raising such has become more difficult because of the fiscal stress caused by Covid. The capital market will have a big role to play in financing the build-out through bonds, Crisil said. It estimates innovations can help mobilise Rs 7-10 lakh crore via infrastructure bonds through fiscal 2025. —FE
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