New Delhi, Dec 8 (PTI) The Greater Hyderabad MunicipalCorporation (GHMC) will be the next city to raise moneythrough bonds, Union minister Hardeep Singh Puri said today.
The housing and urban affairs minister said many morecities had plans to raise money through this route.
It was not a "big deal" to tap funds through bonds,provided the city was managed well and had a good creditrating, he said.
"I am familiar with Hyderabad. A (state) minister told methat they are well on the way to raising Rs 1,000 crore(through municipal bonds)," Puri told reporters on thesidelines of an event here.
The Pune Municipal Corporation (PMC) had in June raisedRs 200 crore by selling 10-year bonds, becoming the firstcivic body to tap money through this route in 14 years.
At the event, the Union minister said the purpose ofraising money through bonds was to strengthen the financialposition of cities.
About the Narendra Modi government's flagship Smart CityMission, he said the impact of projects undertaken under thescheme would be visible by mid next year.
He also pitched for improving the "walking and cycling"infrastructure, saying "we need to move the people, not thecars".
Puri said the Centre will present Smart City awards inJune next year to cities which have performed well inimplementing the projects under the scheme. PTI MP SLBGVS.
This is unedited, unformatted feed from the Press Trust of India wire.