Long-term growth narrative has been set by Sitharaman: BofA's Kaku Nakhate

The government's decision of upholding power purchase agreements as well as the opening up of railways, city gas distribution, and electricity supply to the private sector, are welcome steps

The bond markets will cheer on Monday as the government’s net borrowing target of $75 billion, for FY21, is lower than Street estimates. Further, the opening up of NRI investments into G-Secs (government securities) is a step towards getting India included in the global bond indices.

Tax exemption to sovereign wealth funds on infra investments, equity infusion into IIFCL and the National Investment and Infrastructure Fund, as well as proposed InvIT (infrastructure investment trusts) structures for roads and power grids, will attract new pools of institutional money into the infrastructure sector.

The government’s decision of upholding power purchase