Housing & Urban Affairs Minister Advises Delhi Municipalities to Raise Municipal Bonds at PHDCCI

No.PR-118

November 17, 2018

New Delhi

HOUSING & URBAN AFFAIRS MINISTER ADVISES DELHI MUNICIPALITIES TO RAISE MUNICIPAL BONDS AT PHDCCI

Minister of State (IC) for Housing & Urban Affairs, Government of India, Mr Hardeep S Puri on Friday advised municipal corporations of Delhi to raise municipal bonds as one of the sources for their revenues for ensuring better amenities for the citizens of Delhi.

Deliberating a Valedictory address at a Conference on Dilli : Kal, Aaj Aur Kal – Towards a Sustainable and Smarter Delhi under aegis of PHD Chamber of Commerce and Industry (PHDCCI) here today, Mr Puri also announced that the Ministry of Urban Affairs has already sanctioned multiple projects for betterment of Delhi including its decongestion and facelift including its solid waste management, involving an estimated investment of Rs.2595 crores.

The Minister also announced that the Centre is trying its best to approve fourth phase of Metro construction with utmost persuation with the Delhi Government and hoped that a progress in this direction would be forthcoming, in the meanwhile, Mr Puri also informed that the rider ship of Delhi Metro each day has risen to 30 lakh even after raising the Metro fare in May and October 2017 and dismissed the criticism as basedless which claimed that the Delhi Metro foolfalls have fallen down.

Elaborating on the issue of Municipal Bonds, the Minister stated that at least two Municipalities within Delhi could take initiative to raising Municipal Bonds as one of the tools and suitable channel for fund raising and serve their constituencies even with modest taxation strategy.

In his welcome remarks, President, Mr Rajeev Talwar suggested that a system of single window clearance should be adopted to promote ease of doing business for the industry as in the prevailing system industry is facing problem of multiplicity agencies for giving NOCs

He also said that systemic change in the organisation of built environment and infrastructure and that critically this is both a technological and societal challenge that requires integrated socio-technical knowledge, capacity and responses.

Sr. Vice President, PHDCCI, Mr D K Aggarwal said that new forms of knowledge, expertise and decision support systems that better integrate the technological, economic and environmental issues and options and societal challenges involved in implementation.

Among other who were present on the occasion comprised Mayor, North Delhi Municipal Corporation, Mr Adesh Kumar Gupta; Mayor, South Delhi Municipal Corporation, Mr Narendra K Chawla; Chairman & MD, Fairwood Group, Mr Ranbir Saran and Secretary General, PHDCCI, Dr Mahesh Y Reddy.

Ends.

Koteshwar Prasad Dobhal

Consultant (PR)