The Hindu Business Line : Boost to corporate bond market

Mr Vijay Sankar of Sanmar group says important measures have been announced to expand the benign corporate bond market. A thriving corporate bond market is absolutely necessary to fund India’s growth needs over the next decade. The proposal to allow the parent company to set off dividends received from the subsidiary companies against dividends distributed by the parent company is a welcome move. But it is only a partial step – it is still not clear whether the benefit extends all the way through for a chain of holding companies, if not; it is necessary to amend this anomaly. Announcement of Central Plan Scheme’s Monitoring System is a good move because what is necessary is an efficient system to track and monitor the execution and implementation of already announced schemes. —

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