Manipur becomes 4th state to successfully undertake ULB reforms
Source: IT News

Imphal, January 12 2021: Manipur has become the 4th state in the country to successfully undertake Urban Local Bodies, ULB reforms stipulated by the Department of Expenditure, Ministry of Finance.

The state has become eligible to mobilise additional financial resources of 75 crore rupees through Open Market Borrowings.

Permission for the same was issued by the Department of Expenditure yesterday.

Manipur has now joined the three other States Andhra Pradesh, Madhya Pradesh and Telangana, who have completed this reform.

On completion of Urban Local Bodies reform, these four states have been granted additional borrowing permission of seven thousand four hundred 81 crore rupees.

Reforms in the Urban Local Bodies and the urban utilities reforms are aimed at financial strengthening of ULBs in the states and to enable them to provide better public health and sanitation services.

Economically rejuvenated ULBs will also be able to create good civic infrastructure.

In view of the resource requirement to meet the challenges posed by the COVID-19 pandemic, the Government of India had on 17th May last year enhanced the borrowing limit of the States by two per cent of their Gross States Domestic Product (GSDP).

Half of this special dispensation was linked to undertaking citizen-centric reforms by the states.

The states get permission to raise additional funds equivalent to 0.25 per cent of GSDP on completion of reforms in each sector.

The four citizen-centric areas identified for reforms are, Implementation of One Nation, One Ration Card System, Ease of doing business reform, Urban Local body or utility reforms and Power Sector reforms.

So far, 10 States have implemented the One Nation, One Ration Card System, seven states have done ease of doing business reforms, and four states have done local body reforms.

Total additional borrowing permission issued so far to the states who have done the reforms stands at ญญญ54 thousand two hundred 65 crore rupees.

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