Govt bond market likely to see an explosion of new products in FY24

After a long time, the market for government and public sector debt papers has started to diversify. At the start of 2023, the Centre announced the roll out of Sovereign Green Bonds. All the state governments now have a significant presence in the bond market, having sharply lowered their dependence on the Centre for borrowing ever since Covid struck. 

Or take the example of the Reserve Bank of India’s recent paper (November 2022) debating the prospects for municipal bonds. A related development is the coming of age of debt papers of infrastructure investment funds (InvITs), five years after the