India’s bond market is telling you an interesting story: You noticed? 

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After a 14-year long wait, Moody’s upgraded the Government of India’s local and foreign currency issuer ratings to Baa2 with a stable outlook from the lowest investment grade rating of Baa3. The rating agency acknowledged the ongoing structural reforms in the economy, which are expected to foster the potential growth in the long term. 

However, Moody’s noted that a high level of public indebtedness is India’s ‘principal c ..