Home Madhya Pradesh MP: Indore MC to issue Rs 170 cr bonds for development works

MP: Indore MC to issue Rs 170 cr bonds for development works

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Indore Municipal Corporation

In Madhya Pradesh, the Indore Municipal Corporation will issue bonds worth 170 crore rupees today aimed at ensuring economic participation of citizens in developmental activities of the city. As per information received, the amount obtained from bonds will be used for Atal Mission for Rejuvenation and Urban Transformation (AMRUT).

Indore Municipal Corporation is the first in the state and third in the country to issue such bonds. The public issue of these bonds will be available on National Stock Exchange from 11 am to 1 pm only on today.

According to information the amount will be used for water supply, sewerage, flood water drainage, urban transport and green space development in urban areas through the Government of India’s ambitious AMRUT scheme.

Earlier Pune and Hyderabad Municipal Corporation have also issued bond for AMRUT scheme. It is noteworthy that 34 cities of the Madhya Pradesh have been selected for this ambitious AMRUT scheme.

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