S&P Global Ratings warns local councils’ credit ratings risk being downgraded under National’s plan to ditch Three Waters, which could make it even more.
The Indian government plans to borrow ₹6.55 lakh crore in the second half of the financial year, remaining on track with its budget estimate. The borrowing will include a new 50-year security for the first time, and ₹20,000 crore will be raised through sovereign green bonds. Analysts believe this adherence to borrowing plans demonstrates fiscal prudence and should calm market nerves.