Would industry still hail a budget without tax sops if cost of money rises?

Higher interest rates will clip investment plans of companies and could bad news for FM Nirmala Sitharaman who feels she has kept her part of the deal in Budget FY22 by not raising taxes

The Reserve Bank of India (RBI) has a big problem on its hand. Debt market experts reckon it will need to buy more than Rs 3 trillion of older government papers from the bond market March onwards. Buying those bonds will release cash to dealers and make them interested when newer papers arrive in the market. It is a costly exercise for everyone concerned, since older papers are often more valuable than the new ones for the dealers. 

To make the trade-off happen, the dealers want the government to offer more attractive prices for the new papers, which translates as higher