Over the past year, awarding of road projects has been below the target. In FY23, the National Highways Authority of India (NHAI) awarded 6,003 km of road projects compared with a target of 6,500 km. In the first half of FY24, MoRTH awarded road projects of close to 2,595 km during the period compared with a target of 12,500 km for FY24.
Shorter-dated US Treasury yields surge in anticipation of another Fed rate hike
The Federal Reserve increased interest rates for the first time in over three years. Policymakers anticipate at least one more quarter-percentage-point hike by year-end. Shorter-dated