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Additional borrowing permission of Rs.2,508 crore issued Additional borrowing permission of Rs.7,406 crore granted so far to 3 States for urban local bodies reforms Telangana has become the 3rdState in the country to successfully undertake Urban Local Bodies (ULB) reform stipulated by the Department of Expenditure, Ministry of Finance. Thus, the State has become eligible to mobiliseadditional financial resources of Rs.2,508 crore through Open Market Borrowings. Permission for the same was
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FAQ :
Telangana, Andhra Pradesh, and Madhya Pradesh have completed the Urban Local Bodies reform.
Telangana has been permitted to borrow an additional Rs.2,508 crore.
The reforms aim to financially strengthen Urban Local Bodies (ULBs) and enable them to provide better public health and sanitation services, as well as create good civic infrastructure.
States must notify floor rates for property tax in line with prevailing circle rates and floor rates for user charges for water supply, drainage, and sewerage that reflect current costs or past inflation. They also need to implement a system for periodic increases in these rates.
States that have completed reforms have been granted a total of Rs.54,190 crore in additional borrowing permission.
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