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Why municipal bonds could be the next big fixed-income theme after Budget 2026

The Union Budget introduced a Rs.100 crore incentive for municipal bond issuances exceeding Rs.1,000 crore, aiming to boost India's nascent market. This move encourages large city corporations to tap capital markets for infrastructure projects, complementing existing AMRUT support for smaller issuances. The initiative seeks to foster fiscal discipline and enhance secondary market liquidity [...]