ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Municipal Bond Market for Financing Urban Infrastructure

The steady pace of urbanisation coupled with the adoption of economic reforms has been creating serious problems for the provision and financing of urban infrastructure. The resource crunch at each level of government in general, and at the local level in particular, has instigated the need for innovative financing mechanisms. Municipal bonds provide an excellent route to tap the capital market for long-term financing of urban infrastructure. Against this background, the paper delineates the problems and prospects related to the municipal bond market along with recent initiatives to propel the development of a viable and vibrant municipal bond system in India.

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