GHMC to raise money through bonds

Union Minister Hardeep Singh Puri on Friday announced that the Greater Hyderabad Municipal Corporation (GHMC) will be the next city to raise money through bonds.

Stating the purpose of raising money through bonds was to strengthen the financial position of cities, the Minister said that many more cities had plans to raise money through this route.

Hardeep Singh Puri told the reporters that he learned Hyderabad is well on the way to raising Rs 1,000 crore through municipal bonds.

He further mentioned that it was not a huge deal to tap funds through this route if the city has a good credit rating.