Surging Bond Issuance by Indian States Adds to Modi’s Challenges
Pedestrians wearing protective masks walk past the General Post Office in Kolkata, India. (Photographer: Arko Datto/Bloomberg)

Surging Bond Issuance by Indian States Adds to Modi’s Challenges

(Bloomberg) -- A relentless increase in bond issuance by Indian states means the federal government will likely have to pay a higher price for Prime Minister Narendra Modi’s record borrowing plans.
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