Vote for BJP in urban local bodies" poll for "triple engine" govt in UP: Adityanath
UP: Man booked for attempting to rape 5-year-old girl
Congress to mark 100 days of Bharat Jodo Yatra with concert in Jaipur
BJYM, Hindu outfits put off planned protest march at AMU
Karachi battles gas crisis; residents face unannounced load shedding, 2-hr gas supply in a day
Elderly man in judicial custody dies during treatment in UP hospital
Himachal Pradesh skittle Haryana for 46, take 200-run lead on Day 1
Pak court grants protective bail to PM Shehbaz"s son Suleman in money laundering case
British Library celebrates India ties with exhibition on Hampi
Nine policemen suspended after suspect dies in police custody in UP
Gangster"s property attached in UP"s Pratapgarh district
Maoists torch construction company vehicles in Jharkhand’s Chatra district
Sino-India border situation "generally stable": China on Yangtse clash
Babar Azam not taking advice from seniors, claims Shahid Afridi
Qlite Global launches their exclusive Grand Experience Centre
"Disillusioned with central leadership": Sikkim BJP president says he has resigned
2001 attack anniversary: Ready to guard new Parliament if directed, say CRPF heroes
Class 2 student dies after scuffle with fellow students in UP
Three killed in accident in UP"s Lakhimpur KheriLakhimpur Kheri (UP), Dec 13 (PTI) Three motorcycle borne youths were killed and "
Abandoned girl child from Assam adopted by Spanish professor
Varanasi: Varanasi is getting ready to become the second city in the state after Lucknow whose civic body will raise money through municipal bonds. This move is part of the state government’s efforts to make municipal corporations in UP self-reliant. The civic body has been given a target of raising Rs 200 crore through the bonds.
Varanasi: Varanasi is getting ready to become the second city in the state after Lucknow whose civic body will raise money through municipal bonds. This move is part of the state government’s efforts to make municipal corporations in UP self-reliant. The civic body has been given a target of raising Rs 200 crore through the bonds.
In a statement, the state government said the Varanasi Municipal Corporation had started preparing the bonds that would be used to raise the money, and the funds collected would be invested in various infrastructure schemes and in the city’s development. According to the government, this move is expected to improve the civic body’s public image and help it raise investments from across the world. The municipal bonds are debt securities issued by the government. It is a sort of credit card using which funds are raised. With the bonds, the civic body will raise money from the market for a fixed time and guarantees to return the principal amount along with interest.
“In Varanasi, the budget of the fund will not only boost the growth of various sectors but will also help in the development of international standards and work. This bond will also help investors to invest in the city and will also promote the tourism sector. All these activities together will help in the increment of income of the government. The work of development of ghats, ring roads, the Kashi Vishwanath Dham, the Rudraksha Convention Center, flyovers, CNG trains and boats, connectivity of airways and other facilities will be done by this money,” read the government statement.
The civic body’s area has increased, with 89 new revenue villages getting added to its jurisdiction. The corporation is expected to increase its income through various activities and provide new job opportunities. Municipal Commissioner Gaurang Rathi said a consulting firm will be selected for issuing bonds. The civic body has floated a tender to choose consultancy.
Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.
