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Infrastructure Finance In The Time Of Revenue Crunch: Exploring New Avenues For Urban Local Bodies

Author

Listed:
  • Abhay Pethe

    (Department of Economics, Univeristy of Mumbai)

  • Ajit Karnik

    (Department of Economics, Univeristy of Mumbai)

Abstract

Infrastructure in general and urban infrastructure in particular has proved to be a pons asinorum of economic development. Whilst infrastructure is an umbrella term, provision of many of its components is the duty of the urban local bodies (ULBs). Given the financial crunch faced by the ULBs, innovative initiatives are called for. This paper looks at the specific situation in the state of Maharashtra. Pointing out the heterogeneity in the composition of ULBs within Maharashtra, the paper goes on to suggest two such initiatives for raising resources. One of the initiatives deals with the bond financing and creation of modified financial products; the other addresses the question of rationalization of property tax. In each case the difficulties and pre-requisites are dealt with.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Abhay Pethe & Ajit Karnik, 2004. "Infrastructure Finance In The Time Of Revenue Crunch: Exploring New Avenues For Urban Local Bodies," Department of Economics, University of Mumbai, Mumbai Working Papers 10, Department of Economics, University of Mumbai, Mumbai.
    • Handle: RePEc:ind:mudewp:10
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    File URL: http://mu.ac.in/arts/social_science/eco/pdfs/vibhuti/wp10.pdf
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    References listed on IDEAS

    as
    1. Ladd, Helen F. & Bradbury, Katharine L., 1988. "City Taxes and Property Tax Bases," National Tax Journal, National Tax Association;National Tax Journal, vol. 41(4), pages 503-523, December.
    2. Abhay Pethe, 2005. "Towards Bank Financing of Urban Infrastructure," Working Papers id:36, eSocialSciences.
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    Cited by:

    1. M. Govinda Rao, 2013. "Property Tax System in India: Problems and Prospects of Reform," Working Papers 13/114, National Institute of Public Finance and Policy.

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