An extensive review of surety bonds related to infrastructure projects
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The surety bond for infrastructure projects is provided through agreements signed directly by an assurance company with a contractor and a project owner and a third-party entity. The Indian government announced that the development of infrastructure would be one of the prime focuses of the Union Budget of 2023. Furthermore, the hosting of the G20 in India has been a direct beneficiary to the surety bond sector. The government of India wants more foreign investment to be attracted by being able to use India as the hub for money utilized in infrastructure projects. Many new roads, bridges, and many other projects related to infrastructure are in demand soon. Several important steps can be taken by the government to help the national economy grow further. It could also be a big boost to the economy through the building of new infrastructure, creating employment, raising the average standard of living of a common citizen.
