Summary:
This declaration follows the Centre’s decision to reward up to 20 municipalities in the country every year, which resort to bond issue as a means of fund mobilisation. The suggestion for fund mobilisation through municipal bond issue had been made by Prime Minister Narendra Modi to Mr.
Rama Rao, during his visit to the city for inauguration of Hyderabad Metro Rail. more-inThe Central government has declared a special financial incentive of ?26 crore for the Greater Hyderabad Municipal Corporation (GHMC), in recognition of the latter’s initiative to raise funds through issue of municipal bonds. During the last 50 to 60 years, about ?2,000 crore had been raised by municipalities and local bodies through bond issue, of which 10% was by the GHMC, a press statement of the corporation said. Of this, the first tranche of ?200 crore were mobilised recently, making the GHMC only the second urban local body to issue bonds in recent times after the Pune Municipal Corporation..