Case Study & Research Centre
Financing India’s Urban Transformation
An analysis of the financing challenges facing India’s urban transformation, examining municipal revenues, fiscal decentralisation, tax collection and the potential of municipal bonds to unlock new capital for urban development.
About the Policy Brief
India’s rapidly growing urban areas require significant investment in infrastructure, housing and public services. This policy brief examines the financing gap faced by Urban Local Bodies (ULBs), the changing composition of municipal revenues, and the challenges that limit their ability to mobilise capital.
The brief explores municipal bonds as a market-based financing option and examines the factors influencing investor participation, including financial transparency, credit risk, awareness and liquidity. It concludes by outlining measures to strengthen municipal finances and expand access to capital for sustainable urban development.
Download the Policy Brief
Explore the full analysis of India’s urban financing challenges and the opportunities to strengthen municipal finances and unlock new sources of capital.
What Does the Policy Brief Examine?
Urban Local Body Finances
Fiscal Decentralisation
Tax Collection Efficiency
Municipal Bonds