+
Goa sixth state to complete ULB reforms
ECONOMY & POLICY

Goa sixth state to complete ULB reforms

Goa became the sixth state in the country to successfully undertake the Urban Local Bodies (ULB) reforms stipulated by the Department of Expenditure (DoE), Ministry of Finance.

Goa is now eligible to mobilise additional financial resources of Rs 223 crore through open market borrowings. The DoE has issued permission for the same.

The state joined five other states, namely, Andhra Pradesh, Madhya Pradesh, Manipur, Rajasthan and Telangana, which have completed the ULB reforms. On completion of this set of reforms, these five states have been granted total additional borrowing permission of Rs 10,435 crore. State-wise amount of the additional borrowing permitted is as under:

  
Reforms in ULBs and the urban utility reforms aim to financially strengthen ULBs in the states and enable them to provide better public health and sanitation services to citizens.


Make in Steel 2021

24 February 

Click for event info


4th Indian Cement Review Conference 2021

17-18 March 

Click for event info


The set of reforms stipulated by the DoE to achieve these objectives are:

  1. The state will notify:

           -Floor rates of property tax in ULBs which are in consonance with the prevailing circle rates (ie guideline rates for property transactions).
           -Floor rates of user charges in respect of the water supply provision, drainage and sewerage which reflect current costs/past inflation.

      2.The state will place a system of periodic increase in floor rates of property tax and user charges in line with price increases.

Given the resources required to meet multiple challenges posed by the Covid-19 pandemic, the Government of India had in May 2020 enhanced the states' borrowing limit by 2% of its gross state domestic product (GSDP).Half of this special dispensation, ie, 1% of GSDP, has been linked to undertaking citizen-centric reforms by the states. The four citizen-centric areas for reforms identified by the DoE were:

  1. Implementation of the "One Nation One Ration Card" system
  2. Ease of doing business reform
  3. Urban local body utility reforms
  4. Power sector reforms

Image: The five states have been granted a total additional borrowing permission of Rs 10,435 crore. 


Also read: Andhra undertakes power reforms

Goa became the sixth state in the country to successfully undertake the Urban Local Bodies (ULB) reforms stipulated by the Department of Expenditure (DoE), Ministry of Finance. Goa is now eligible to mobilise additional financial resources of Rs 223 crore through open market borrowings. The DoE has issued permission for the same. The state joined five other states, namely, Andhra Pradesh, Madhya Pradesh, Manipur, Rajasthan and Telangana, which have completed the ULB reforms. On completion of this set of reforms, these five states have been granted total additional borrowing permission of Rs 10,435 crore. State-wise amount of the additional borrowing permitted is as under:  Reforms in ULBs and the urban utility reforms aim to financially strengthen ULBs in the states and enable them to provide better public health and sanitation services to citizens.Make in Steel 202124 February Click for event info4th Indian Cement Review Conference 202117-18 March Click for event info The set of reforms stipulated by the DoE to achieve these objectives are: The state will notify:           -Floor rates of property tax in ULBs which are in consonance with the prevailing circle rates (ie guideline rates for property transactions).           -Floor rates of user charges in respect of the water supply provision, drainage and sewerage which reflect current costs/past inflation.      2.The state will place a system of periodic increase in floor rates of property tax and user charges in line with price increases. Given the resources required to meet multiple challenges posed by the Covid-19 pandemic, the Government of India had in May 2020 enhanced the states' borrowing limit by 2% of its gross state domestic product (GSDP).Half of this special dispensation, ie, 1% of GSDP, has been linked to undertaking citizen-centric reforms by the states. The four citizen-centric areas for reforms identified by the DoE were: Implementation of the One Nation One Ration Card system Ease of doing business reform Urban local body utility reforms Power sector reforms Image: The five states have been granted a total additional borrowing permission of Rs 10,435 crore. Also read: Andhra undertakes power reforms

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?