India Banks Permitted to Sell Long-Term Debt for Infrastructure

India Banks Permitted to Sell Long-Term Debt for Infrastructure

Prashanth Vishwanathan/Bloomberg

Trucks laden with iron ore sit in traffic on a bridge en-route to Paradip Port in Paradip, Odisha. Prime Minister Narendra Modi, in his first budget presented last week, pledged $25 billion to boost spending on developing the nation’s infrastructure, including highways, power plants, ports and housing.