How revamped rural jobs scheme may push bond yields even higher
An increased funding burden on the states under India’s revamped rural jobs guarantee scheme is expected to push up their borrowings and send bond yields higher, according to market participants. The Viksit Bharat-Guarantee for Rozgar and Ajeevika Mission (Gramin) (VB-G RAM G) Act shifts the Centre-state funding ratio to 60:40 from the current 90:10 under…