Good Morning friends, today is Sunday, August 31, 2008. I start my day with morning walk start at 5-30 am and I walk 45 minutes today. It was really good time. I enjoyed it a lot there in morning walk. Back home from there, I was reading new paper and I read this news. It’s something I like. My city Ahmedabad is in list of credit-worth cities. Its matter of proud for me being citizen of ahmedabd. Our Municipal Corporation called AMC that’s Ahmedabad Municipal Corporations is among the top ten municipal corporations of india.
Being Gujarati and being from Gujarat I like to let all know that not only ahmedabad city from Gujarat state but also Surat, vadodara and Rajkot were there in the list. It’s it matter of proud for me! It is. Read the complete news below.
Ahmedabad has done itself proud, again! The city is now among the top ten Indian cities whose municipal corporations are the “most credit worthy”.
And Ahmedabad is not the only city from Gujarat to make it to the list. Gujarat’s ‘Diamond City’ Surat has topped the list with Nashik after notching the highest average household income in India and best GDP growth. Moreover, Vadodara and Rajkot too have found a place for themselves in the top 10 list.
Leading rating agencies Crisil and ICRA have graded the Indian cities’ urban civic bodies based on the utilization of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) funds and other parameters, including operating and financial efficiency.
Simply put, if the municipal corporations of these cities decide to issue bonds, the takers would reap rich dividends.
Crisil and ICRA had recently carried out this exercise of giving corporate credit ratings (CCRs) to 69 urban local bodies (ULBs) under the mandate from Union ministry for urban development, as a part of JNNURM.
“Surat’s civic body has the capacity to recover the funds spent on infrastructure development. Surat and the other three cities of Gujarat are good bets among the present lot of ULB’s,” Akash Deep Jyoti, head, corporate and government ratings, CRISIL.
Jyoti added that the ratings are based on the five major parameters — legal and administrative framework, economic base of service area, economic management, operating efficiency and service quality and financial performance.
Under JNNURM, Surat has Rs 500 crore BRTS project just kicking off. It has achieved 65 percent utilisation of JNNURM funds, the highest among all cities.
In all, 31 projects worth Rs 2,194 crore have been sanctioned for the city under JNNURM, to be completed by 2012. Confident of achieving the target, S Aparna, Surat municipal commissioner, says: “Surat is witnessing a phenomenal growth and by the next decade, this would be India’s best city in terms of infrastructure and all-around development.”
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Posted by dhirendra08 
