Indian Municipal Finance: An Update
Mithlesh Verma, Amir Bazaz, Manish Dubey | 2022
Urban India currently accounts for a third of the country’s population and nearly two thirds of its economic output (IIHS, 2015; IIHS, 2017; Ministry of Health & Family Welfare (MoHFW), Government of India (GoI, 2020). By 2030, its share of India’s population and economic output is projected to be as high as 40 per cent and 75 per cent, respectively (MoHFW, GoI, 2020; Ministry of Urban Development (MoUD), GoI, 2015). The developmental promise this demographic and economic shift holds warrants a strengthening of local government powers, finances, and capacities to deliver strong outcomes, including improved infrastructure and services. Linked to this are the sizable and growing investment demands for urban expansion, renewal, and retrofit to address risk and emerging challenges such as climate change.