Kochi corporation all set to revive plans to issue municipal bonds
1 month, 2 weeks ago

Kochi corporation all set to revive plans to issue municipal bonds

New Indian Express  

KOCHI: Following the state budget proposal to allow local bodies to raise funds by issuing bonds, Kochi corporation is planning to take that route to bankroll its infrastructure development. The budget recommended the formulation of a detailed proposal to allow urban local bodies to raise an amount of Rs 1,000 crore through municipal bonds. Many local bodies in the country have raised funds through municipal bonds, including Ahmedabad, Bengaluru, Indore, Lucknow, and Vadodara. Bengaluru Municipal Corporation was the first local body in India to issue municipal bonds in 1997.

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History of this topic

Here's all that you need to know about municipal bonds
2 months ago

Here's all that you need to know about municipal bonds

Hindustan Times  

To strengthen urban infrastructure financing, the Uttar Pradesh Cabinet has approved the issuance of ₹150 crore worth of municipal bonds for Prayagraj, Varanasi, and Agra municipal corporations. In January 1998, Ahmedabad Municipal Corporation issued the first municipal bond worth ₹100 crore without a state government guarantee to finance infrastructure projects. Additionally, high net worth individuals may prefer municipal bonds for …

Need smooth process to fund municipal bonds: Experts
1 year, 10 months ago

Need smooth process to fund municipal bonds: Experts

Hindustan Times  

In March 2022, the Vadodara Municipal Corporation’s municipal bond to raise ₹100 crore for a water supply project was oversubscribed more than 10 times, attracting over ₹1,000 crore. Thereafter, in February this year, the Indore Municipal Corporation became India’s first civic body to launch a public issue of municipal bonds, with the corporation aiming to raise ₹244 crore for a …

Cash-strapped Kochi Corporation to seek govt. support to tide over crisis
2 years, 4 months ago

Cash-strapped Kochi Corporation to seek govt. support to tide over crisis

The Hindu  

The cash-strapped Kochi Corporation is hoping for a largesse from the State government to tide over the present crisis. With pressure mounting from all sides to clear pending bills, including salary arrears of contingent workers and contractors, Mayor M. Anilkumar is planning to meet Finance and Local Self-Government Ministers next week to request them to release funds for the civic …

Kochi Corporation spends 72 pc funds
6 years ago

Kochi Corporation spends 72 pc funds

Deccan Chronicle  

Kochi: On the last day for submitting bills of 2018-19 Plan fund works on Wednesday, Kochi Corporation could spend 72 per cent of its fund allocation. “As the finance department lifted the treasury curbs a week ago, the corporation’s pending bills worth several crores have be-en cleared. As per the data on Wed-nesday, corporation could spend 72 per cent of …

94 cities get rated as urban local bodies prepare for municipal bonds
7 years, 10 months ago

94 cities get rated as urban local bodies prepare for municipal bonds

Live Mint  

New Delhi: In what will help raise resources for India’s urbanization needs, 94 cities across 14 states have received credit ratings from agencies such as Crisil as part of their preparations for issuing municipal bonds. “Credit ratings are assigned based on assets and liabilities of Urban Local Bodies, revenue streams, resources available for capital investments, Double Entry Accounting practice and …

Kochi Corporation to get new building
9 years, 9 months ago

Kochi Corporation to get new building

Deccan Chronicle  

KOCHI: After 11 years of uncertainty, the construction of the new building for Kochi Corporation at Marine Drive will resume soon, if everything goes well. The project proposed in 2004 and stuck midway has got a fresh impetus after the finance department cleared the revised project proposal and cost. Now, with the finance department’s clearance for the new proposal and …

Kochi corporation slips on Jawaharlal Nehru National Urban Renewal Mission
9 years, 10 months ago

Kochi corporation slips on Jawaharlal Nehru National Urban Renewal Mission

Deccan Chronicle  

KOCHI: When the UDF-led council came to power in Kochi corporation in 2010 November, the civic administration and the public were hopeful that many of the long-drawn development projects will become a reality. A major reason for this was the availability of funds under Union government’s Jawaharlal Nehru National Urban Renewal Mission. As per a status report released by the …

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