Financing capital expenditure through municipal bond market in Navi Mumbai Municipal Corporation
Open Access
- 26 April 2019
- journal article
- Published by LLC CPC Business Perspectives in Public and Municipal Finance
- Vol. 8 (1), 11-27
- https://doi.org/10.21511/pmf.08(1).2019.02
Abstract
In India, the urban local bodies do not have decentralization in various functions. Therefore, municipal corporations find various issues in functioning and revenue generation. It has resulted into either shortfall or low quality infrastructure services to people. The Navi Mumbai Municipal Corporation is developed as modern municipal corporation. Municipal corporation invested financial resources in development for civic infrastructure. Therefore, population, industries, educational institutions, markets, transport and other facilities are expanding very fast. The ordinary least square regression results shows that the municipal corporation has positive co-relation with revenue receipts from LBT, property tax and town planning. The revenue expenditure is positively co-related with municipal estate, public health and hospitals, primary and secondary education. The engineering work for poor is negatively correlated with revenue expenditure. The capital receipts are positively co-related with fire brigade, auditorium, sports and cultural programs and security deposits and water supply. The capital expenditure is positively co-related to women and child welfare schemes, primary education, environment monitoring. It is negatively co-related with dumping grounds. The municipal corporation must raise funds from capital market through municipal bonds. More investment must be made in civic infrastructure. Similarly, corporation must spend more funds on poor, welfare of women and children. Municipal corporation must monitor and protect environment. It must give more priorities for processing of solid and e-waste, protect local culture, primary and secondary education, health care for all and technology in provision of civic services. It must develop human resource and create best place to live in metropolitan region.Keywords
This publication has 6 references indexed in Scilit:
- Long-term changes in pond permanence, size, and salinity in Prairie Pothole Region wetlands: The role of groundwater-pond interactionJournal of Hydrology: Regional Studies, 2018
- Ecological conditions and ecosystem services of wetlands in the Lake Tana Area, EthiopiaEcohydrology & Hydrobiology, 2018
- Role of Tax Revenue to Strengthen of Pokhara Sub-Metropolitan CorporationJanapriya Journal of Interdisciplinary Studies, 2017
- Financial Health of Urban Local Bodies of Rajasthan with Special Reference to Jodhpur Municipal CorporationIOSR Journal of Humanities and Social Science, 2013
- Impact of Economic Crisis on Municipal Budgets in the Czech RepublicEUROPEAN RESEARCH STUDIES JOURNAL, 2011
- Strengthening Financial Capability of a Municipality: A Case Study of Dhaka City CorporationJournal of Bangladesh Institute of Planners, 1970