BACKGROUND AND DETAILS
India’s creaking urban infrastructure requires large infusion of capital to upgrade and modernize to world class levels. While capital investment requirements in cities is estimated at over 0.6 trillion USD during 2011-2031, municipalities in India have a total annual revenue base of only 17.5 billion USD.
However, cities are under equipped and do not have the required competencies to meet the requirements of private investors. Moreover most cities do not have policy-frameworks that can help them plan and manage their finances in the medium to long-term, such as a Medium Term Fiscal Plan, Municipal borrowing framework, etc.
The proposed centre will provide support to cities and states to make them ‘market ready’ as well as create forums to connect investors and ULBs to enable information exchange.
- Central Government: Ministry of Housing & Urban Affairs (MoHUA) and Fifteenth Finance Commission
- State Government: Rajasthan, Jharkhand, Delhi, Karnataka, Chhattisgarh and Tamil Nadu
- City Government: Bengaluru and Meerut