Best of BS Opinion: Municipal bonds, signals from market, and more

Here are the best of Business Standard's opinions for today

The decision to issue Rs 200 crore worth of bonds by the Lucknow Municipal Corporation should help kick-start attempts by other urban local bodies in relatively under-developed states to find alternative ways of financing infrastructure by tapping the capital markets. 

Our lead editorial notes that this is a useful way to try and expand the financing options for urban infrastructure in India —and to introduce some market discipline into urban governance and revenue generation.

Other opinion pieces for the day talk about stock markets and government procurement.

The stock markets are sending a clear message. Growth will come back strongly in FY22, and sustain at higher levels than the bears assume, writes Akash Prakash

It’s time that economic practice in procurement caught up with the state of the art in theory, writes Vinayak Chatterjee.

Quote of the day

“Reforms are needed for development. Some laws, which used to be good in the past century, have become a burden in the present century.”  

Prime Minister Narendra Modi