27 March Monday

Union Budget 2023: Municipal Bonds To Raise Funds For City Development; 50 New Airports, Heliports

Web Desk (Tvm)Updated: Wednesday Feb 1, 2023

New Delhi : Municipal bonds shall be issued to raise funds for urban development, said Finance Minister Nirmala Sitharaman   Machines shall be employed to clean sewages in cities,

A capital investment of Rs 10 lakh crore shall be made in the  year 2023-24.  States will be given interest-free loans for one more year. 50 new airports and heliports shall be built, said Finance Minister

A municipal bond is a debt instrument issued by Corporations under municipal laws with permission of State governments. Funds raised thus are used to finance projects for socioeconomic development eg. schools, hospitals, bridges etc.