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Lucknow2 hours ago
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The Municipal Corporation will bear the cost of implementing the development plans of the capital Lucknow.
- Municipal corporations of many more cities will issue their bonds on the lines of Lucknow Municipal Corporation
The Lucknow Municipal Corporation will now step in with the corporate world. The standards of development, beautification and cleanliness of the capital will be further improved. The Municipal Corporation will bear the cost of implementing the development plans of the capital. Bombay Stock Exchange (BSE) is going to change the appearance of the municipal corporation and its working style with the introduction of 200 crore bonds. Citizens will benefit directly from it. On December 2, there will be a listing of municipal bonds in Mumbai in the presence of CM Yogi Adityanath.
Municipal Commissioner Ajay Kumar Dwivedi said that the state government is going to encourage other local bodies of the state in view of the achievement of Lucknow Municipal Corporation. The municipal corporations of Ghaziabad, Varanasi, Agra and Kanpur will also issue municipal bonds in the coming months.
Was launched with 200 digits
The Municipal Commissioner informed that Lucknow Municipal Corporation has launched bonds with a total mark of 200 crores in BSE, which subscribed over 225 per cent (450 crores). The 10-year bond closed at a very attractive rate with a bounce of 8.5 per cent, a record. Let us tell you that at the Investors Summit held in Lucknow in 2018, Prime Minister Narendra Modi announced. It was then taken by Chief Minister Yogi Adityanath as a challenge to launch as the first municipal bond under the ‘Amrit’ scheme in North India. The release of the Municipal Corporation in the Kovid period is an achievement in itself.
This is an indication that investors are interested in improving the economic environment in the country. The bond launched by the Lucknow Municipal Corporation symbolizes a change in urban governance. For this, the State Government, Yogi Government and Government of India have given their full support.