‘Bond money safe, to be used for Indore development’

Registering the bonds of Indore Municipal Corporation in National Stock Exchange, Mumbai on behalf of the 7 crore public of the state Chief Minister Shivraj Singh Chouhan said that not only is the money being invested in bonds by every person safe but it will also be utilised in the development works of Indore.

With the aim of ensuring economic participation of citizens in the development activities of the city by the Madhya Pradesh government, the Municipal Corporation had issued bonds worth Rs 170 crores on June 28. Indore Municipal Corporation is the state’s first and the country’s third Municipal Corporation to issue such bonds.

Indore Municipal Corporation has fulfilled social responsibility by issuing the bond. Chouhan said that the commercial city of Madhya Pradesh Indore is number 1 in the list of clean cities since the last 2 years. In this apart from the contribution of Indore administration, the contribution of Indore citizens also is noteworthy. All the policies of the administration are successful only with the help of the citizens.

Municipal Corporation, Indore had got evaluation done by two national level rating agencies, in which double AA rating was provided by the agency due to the sound financial condition of the municipal corporation, on the basis of which the process of issuing bonds of Rs 170 crores was started after registration in NSC in the month of June-2018 from Indore Municipal Corporation. He said that after Indore, now Bhopal, Jabalpur and Gwalior Municipal Corporation are also trying to speed up process of registration in NSC.

With this type of capital investment, the best possible arrangement of electricity, water, city traffic, sewerage etc. will be made available to the citizens.

He said that cleanliness programme is being implemented in Madhya Pradesh on war footing under the Prime Minister’s Swachh Bharat Abhiyan. This is evident from the fact that Indore and Bhopal have been established on Number 1 and 2 in the list of clean cities.

Mayor of Indore Municipal Corporation, Malini Laxman Gaur, Principal Secretary, Urban Development Vivek Agrawal and Divisional Commissioner, Indore, Raghvendra Singh were present in the grand function organized at National Stock Exchange, Mumbai.