Headline capex understates the Union Budget’s infrastructure push. Adjusting for equity infusions, state and private spending, and extra-budgetary resources shows effective Centre infrastructure spending rose 18% year-on-year, led by defence, transport, housing, and water, alongside PLI and targeted tax incentives.
India eyes major bond index entry as tax exemptions sweeten appeal
India is set to reapply for inclusion in major global bond indices. This follows significant tax exemptions for foreign investors on capital gains and withholding