INITIATIVES

Catalyzing Investments for Sustainable Urban Transport through Municipal Finance Reforms

Sector Systems and Planning
Undertaken By Janaagraha Centre for Citizenship and Democracy
Undertaken By base All India
Year 2017

Over the next 20 years, India’s cities will require an investment of at least USD 800 billion to meet the growing demand for civic services. While some of this can be met through government funding, increasingly cities will have to seek recourse through other means, including the issuance of municipal bonds. While the potential of India’s municipal bond market is high, it has remained largely untapped. Very few Urban Local Bodies (ULBs) have experience in raising funds through municipal bonds. In addition, the financial management practices of the ULBs must be significantly improved for investors to take interest. To raise their credibility, municipalities can develop and release audited balance sheets. In doing so, they will also become eligible for performance grants by the government.Therefore, there is a need to strengthen the fiscal management system of ULBs to ensure improved utilisation of available resources and identification of new revenue streams.

Tagged Under

RESOURCES FOR THIS INITIATIVE
  • Udaipur Municipal Corporation : Annual Report (2015-16)
  • There is a need to strengthen the fiscal management system of ULBs to ensure improved utilisation of available resources and identification of new revenue streams. An important step in this regard is to develop audited financial statements of the ULBs. This will help in ascertaining their financial performance, and mapping their assets with a view to raise their credibility with potential investors. Given this context, Shakti supported the development of the Model Annual Report for the city of Udaipur.

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