New Delhi, May 12 -- NK Singh, President of the Institute of Economic Growth and former Chairman of the 15th Finance Commission, stated that developing a deep bond market is necessary to restructure India's financial resources.

Speaking to the media on Monday, Singh explained that the development of a bond market stands out as a solution to the long-term financing needs of the infrastructure sector. By shifting this burden away from commercial banks, the financial system can avoid the foreclosure of resources that often hampers credit flow to other sectors of the economy.

"Along with some of the other measures that foreclose a large part of our resources, the need to develop a deep bond market so as to free up the resources of the comme...