Quick Summary
Additional borrowing permission of Rs.7,481 crore granted so far to 4 States for undertaking urban local bodies reforms Manipur has become the 4thState in the country to successfully undertake Urban Local Bodies (ULB) reforms stipulated by the Department of Expenditure, Ministry of Finance in
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FAQ :
Manipur, Andhra Pradesh, Madhya Pradesh, and Telangana have completed the urban local bodies reforms.
Manipur has been permitted to mobilise additional financial resources of Rs. 75 crore through open market borrowings.
The reforms aim to financially strengthen urban local bodies, enabling them to provide better public health and sanitation services, and create good civic infrastructure.
States were required to notify floor rates for property tax in line with prevailing circle rates and user charges for services like water supply to reflect current costs or past inflation, along with a system for periodic increases.
The four states that have completed the urban local bodies reforms have been granted a total additional borrowing permission of Rs. 7,481 crore.
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