Bodies under GBA will raise funds through civic bonds: Siddaramaiah

Karnataka Chief Minister Siddaramaiah announced that Bengaluru's city corporations will be allowed to raise funds through municipal bonds as part of an effort to enhance infrastructure development. This initiative aims to support ongoing projects and is complemented by a significant ₹7,000 crore grant designated for urban development. The move is expected to empower local governance and improve financial independence, enabling corporations to address pressing civic needs more effectively. By leveraging civic bonds, the government seeks to attract private investment and foster sustainable urban growth in Bengaluru, which has been grappling with various infrastructural challenges in recent years. This strategy aligns with the broader goal of revitalizing urban areas across the state, ensuring that the city's growth is both rapid and sustainable, benefiting residents and businesses alike.