UP Cabinet Okays Municipal Bonds for Infrastructure

24 Jan 2025 CW Team

In a significant move aimed at bolstering infrastructure development in Uttar Pradesh, the state Cabinet approved the issuance of municipal bonds for the cities of Prayagraj, Varanasi, and Agra. The decision was made during a cabinet meeting chaired by Chief Minister Yogi Adityanath, which took place in the Maha Kumbh Mela area in Prayagraj.

The new initiative will see the issuance of municipal bonds, enabling these cities to raise funds from the market for infrastructure projects. For every billion raised through these bonds, the state government will provide an additional Rs 130 million as a grant, which will be deposited into an escrow account by the Government of India. Municipal bonds of up to Rs 500 million will be issued for each of the three cities.

This initiative will allow the municipalities to access a larger pool of capital, enabling long-term investments in critical infrastructure projects. It follows a similar approach previously undertaken by municipal corporations in Lucknow and Ghaziabad.

In addition to the bond issuance, the Cabinet approved a new residential project in Agra and endorsed the Agra Development Authority's proposal to construct a 100-meter-wide inner ring road. A land parcel scheme for this project was also given the green light. Furthermore, an ex-gratia amount of Rs 2.04 billion was approved to cover the difference between the 2010 circle rate and the current circle rate for 442.4 hectares of land in Agra.

The Cabinet also agreed to amend the notification from the Uttar Pradesh State Industrial Development Authority to separate industrial development areas in the villages of Rahankala and Raipur. These moves are expected to stimulate growth and development across the region.

Infrastructure Transport

04 Nov 2025

Madhya Pradesh Launches PM Shri Tourism Helicopter Service

Madhya Pradesh has achieved a national first by launching the PM Shri Tourism Helicopter Service, establishing India’s first intra-state air connectivity. Chief Minister Dr Mohan Yadav inaugurated the service at Raja Bhoj International Airport, Bhopal, marking a significant step towards transforming the state’s tourism infrastructure. Following the launch, four helicopters departed for Ujjain, symbolising the start of regional air tourism. The initiative, led by the Madhya Pradesh Tourism Board, will operate under a Public-Private Partnership (PPP) model, connecting the state’s key reli..

Garuda Aerospace CEO Honoured by Tamil Nadu Governor

Chennai, 3 November 2025: Agnishwar Jayaprakash, Founder and Chief Executive Officer of Garuda Aerospace, was felicitated by Tamil Nadu Governor Thiru R.N. Ravi for his exceptional contribution to India’s drone technology ecosystem. The recognition was presented during the Foundation Day celebrations of several States and Union Territories at Bharathiar Mandapam, Raj Bhavan, in Chennai. The honour acknowledges Jayaprakash’s leadership in strengthening the country’s unmanned aerial vehicle (UAV) capabilities and his efforts in harnessing technology for social good. He was also recognised..

Hindustan Zinc’s EcoZen Delivers 75 per cent Lower Carbon Emissions

Udaipur, 3 November 2025: Hindustan Zinc, the world’s largest integrated zinc producer and among the top five global silver producers, has reinforced its sustainability leadership with EcoZen, Asia’s first low-carbon zinc brand. The innovation achieves over 75 per cent lower carbon intensity than conventional zinc, setting new standards in green manufacturing and industrial decarbonisation. Produced using renewable energy and certified under REACH standards, EcoZen helps avoid an estimated 400 kg of carbon emissions for every tonne of steel galvanised. It supports India’s Viksit Bharat ..