Multiple municipal corporations are looking to tap the debt market after the Centre announced an incentive for municipal bonds in its budget.The Bombay Municipal Corporation (BMC) and the Ahmedabad Municipal Corporation (AMC) are in talks to raise ₹1,000 crore issuance, people aware of the matter said. The BMC is currently in the accreditation and credit rating process, a mandatory requirement before any bond issuance.
In a strategic move towards urban development, Indian cities are set to tap into the debt market for funding. Key players like the Bombay Municipal Corporation and Ahmedabad Municipal Corporation are on board to secure substantial financial resources. Meanwhile, smaller municipalities are not sitting on the sidelines and are poised to launch their own bonds.
