The Finance Ministry’s decision to slash fuel excise taxes might have given India’s oil companies some breathing room, but it has negatively affected another corner of the economy: the government bond market. Indian government bonds fell sharply on Friday morning, with the benchmark 6.48 per cent bond maturing in 2035 seeing its yield spike to 6.9523 per cent, its highest level since July 2024, before settling at 6.9256 per cent [...]