‘Raise funds through bonds for infra projects’

Minister of State for Housing and Urban Affairs Hardeep Singh Puri on Thursday suggested that Bengaluru should consider raising funds through municipal bonds to finance some of its projects.

BENGALURU: Minister of State for Housing and Urban Affairs Hardeep Singh Puri on Thursday suggested that Bengaluru should consider raising funds through municipal bonds to finance some of its projects.

Puri, who was in the city to review the progress of Central schemes, said cities such as Pune and Hyderabad were already using municipal bonds to raise loans and Bengaluru should emulate the same. Many cities find it difficult to raise revenue as taxes are not collected fully. “Every city should be able to raise funds as they are providing services,” he said. Earlier, he said nowhere in the world do cities depend on the Central government for funds.

Related Stories

No stories found.
The New Indian Express
www.newindianexpress.com