NITI Aayog has kick-started holistic research on India’s corporate bond market and will soon firm up its recommendations on ways to deepen the corporate bond market, seen as an alternative to bank finance for borrowers, the Aayog said in its Annual Report 2023-24.
“The economic and finance vertical is in the process of developing a holistic research buttressed with key policy recommendations to deepen the corporate bond markets,” it said.
According to the report, corporate bond markets are an efficient cost minimization process for long-term funding and contribute significantly to financial stability.
“It is a mechanism for supporting the bank for long-term lending against relatively shorter-tenor liabilities and helping the insurance companies and pension fund holders to diversify their portfolios while spreading or distributing the risks and managing the liquidity gap,” it said.
Besides, the Aayog has collaborated with stakeholder ministries including the ministry of statistics and programme implementation to firm up a cohesive strategy for leveraging data for governance, it said in the report.
According the report, a task force has been set up on the Indian Statistical Systems under the chairmanship of Suman Ber, the vice chairman of, which in-turn has constituted an expert group to conduct in-depth assessments of specific areas and propose solutions concerning improving survey quality, harmonisation of survey data, and identifying use cases of data.
“Due to the large range of data domains that could be considered, it was decided that the expert group conduct a baseline study and analysis in the areas of nutrition, labour and business statistics,” it added.
