Centre for Municipal Finance

The Centre for Sustainable Municipal Finance aims to improve the financial health of Urban Local Bodies (ULBs) through research and providing consultancy and implementation support to the Central Government (MoHUA and Fifteenth Finance Commission), State Government (Rajasthan, Jharkhand, Delhi, Karnataka etc) and City Government (Bengaluru and Meerut).



Credible and timely financial and operational information on ULBs will be available in the public domain enable greater transparency and accountability on performance of ULBs

It will catalyse private sector participation in urban infrastructure, to improve penetration in both PPPs and Municipal Bonds.

The support provided by the centre will enable ULBs to be financially sustainable


Commission a feasibility study for the proposed centre

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Incubation of the centre in partnership with an academic institution and support to staff the centre

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Collection of data from Municipalities, translation and digitisation of the data, maintenance of data repository, research and consulting services, convenings and workshops for dissemination of insights and research

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Sustainable Development Goals (SDGs)
  • 11 - Sustainable Cities and Communities


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.


  1. Central Government: Ministry of Housing & Urban Affairs (MoHUA) and Fifteenth Finance Commission
  2. State Government: Rajasthan, Jharkhand, Delhi, Karnataka, Chhattisgarh and Tamil Nadu
  3. City Government: Bengaluru and Meerut


December 2019
  • A feasibility study for the development of such a centre to be completed
December 2020
  • Centre for Municipal Finance to be incubated in partnership with an academic or research institute
December 2021
  • Publishing of ranking of 600 ULBs based on the financial and operational  information available on the portal

Initiative Lead
Anil Nair Head - Reforms Janaagraha Centre for Citizenship & Democracy

Janaagraha Centre for Citizenship and Democracy (www.janaagraha.org) was founded by Swati Ramanathan and Ramesh Ramanathan in December 2001. It is registered under the Indian Trusts Act, 1882. Janaagraha s mission is to transform the quality of life in India s cities and towns. We work with citizens to catalyse active…

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