CURATED BY – RAGHUVEER SINGH | CITYCHIEFNEWS

Mahakumbhnagar, India and Uttar Pradesh's population are seeing a gradual increase in the percentage of urban population. Due to the increasing migration towards cities, there is a challenge to provide better infrastructure facilities and opportunities for development to the urban population. Therefore, urban bodies need to be strengthened from financial and administrative point of view to provide better infrastructure facilities such as drinking water, roads, drainage, street lights, etc. For financial strengthening, the bodies require funds from various financial sources. Financial discipline and management is an important link in the use of funds received from various financial sources. Therefore, to increase sound fiscal management, market orientation and credit worthiness in the bodies, funds are also being made available to encourage the issuance of Municipal Bonds under the incentive scheme of the Government of India.

Uttar Pradesh's Urban Development and Energy Minister Shri A.K. Sharma informed that in this way, approval for issuing Municipal Bonds of Rs. 50 crore in Prayagraj Municipal Corporation, Rs. 50 crore in Agra and Rs. 50 crore in Varanasi has been received in the cabinet meeting held in Prayagraj Mahakumbh on Wednesday.

The said Municipal Corporations have selected the projects after getting the approval of the Municipal Corporation House.

Under this, the Urban Development Department will build a hospital comparable to IIT Roorkee in Prayagraj at a cost of Rs. 100 crore. This will be the first super specialty hospital in the district.

Along with this, commercial complexes including underground parking will be developed in Varanasi. Solar city and water treatment work will be done in Agra.