​RBI’s Report on Municipal Finances

On 13th November, 2024, the Reserve Bank of India (RBI) released the Report on Municipal Finances under the theme -“Own Sources of Revenue Generation in Municipal Corporations: Opportunities and Challenges”.

  • The report presents an analysis of the budgetary data for 232 municipal corporations (MCs), which cover more than 90 per cent of total MCs in the country.

Key Highlights

Low Revenue Collection

  • MCs generate only 0.6% of GDP in revenue (2023-24), much lower than central government (9.2%) and State Governments (14.6%).

Heavy reliance on Central Government

  • MCs rely heavily on government transfers. Grants from Central and State ....
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