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municipal bonds only work if they're part of a larger fiscal decentralization framework. India's cities control just 1-2% of public expenditure, compared to 20-35% in most developed economies. No financial instrument can overcome this structural weakness.
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๐ธ25 Basic terms you should know before watching Budget 2025 on Feb 1 Finance Minister Nirmala Sitharaman is preparing to present the Union Budget 2025, marking the second full budget of Prime Minister Narendra Modiโs government in its third term, a
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