Telangana has become the third state in the country to successfully undertake 'Urban Local Bodies (ULB)' reform stipulated by the Department of Expenditure, the Ministry of Finance said on Thursday.
The state has become eligible to mobilise additional financial resources of Rs 2,508 crores through open market borrowings. Permission for the same was issued by the Department of Expenditure on January 7, 2021.
Telangana has now joined the two other states namely, Andhra Pradesh and Madhya Pradesh, who have completed this reform. On completion of urban local bodies reform, these three states have been granted additional borrowing permission of Rs 7,406 crores.
Reforms in the urban local bodies and the urban utilities reforms are aimed at financial strenghtening of ULBs in the state and to enable them to provide better public health and station services.
( With inputs from ANI )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor