Manipur 4th state to complete urban local bodies reform, can borrow adnl ₹75cr1 min read . Updated: 12 Jan 2021, 01:50 PM IST
- Earlier, Telangana, Andhra Pradesh and Madhya Pradesh had successfully completed urban local bodies reform reforms.
- These three states have been granted additional borrowing permission of ₹7,406 crores.
Manipur has become the fourth state in the country to successfully undertake 'Urban Local Bodies (ULB)' reform stipulated by the Department of Expenditure, the Ministry of Finance said on Thursday.
The state is now eligible to mobilise additional financial resources of ₹75 crore through open market borrowings. Permission for the same was issued by the Department of Expenditure on Tuesday.
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Earlier, Telangana, Andhra Pradesh and Madhya Pradesh had successfully completed the reforms. These three states have been granted additional borrowing permission of ₹7,406 crores.
As per the Finance Ministry, Andhra Pradesh has been permitted to borrow additional ₹2,525 crore, Madhya Pradesh ₹2,373 crore, Telangana ₹Telangana and Manipur can borrow additional ₹75 crore.
Reforms in the urban local bodies and the urban utilities reforms are aimed at financial strengthening of ULBs in the state and to enable them to provide better public health and sanitation services.