NDMC derives its income from four main sources, which in order of importance are charges from sale of electricity, income from municipal works, property taxes and charges from sale of water.
NDMC derives its income from four main sources, which in order of importance are charges from sale of electricity, income from municipal works, property taxes and charges from sale of water.

After Pune Municipal Corporation, the New Delhi Municipal Corporation (NDMC) is likely to float municipal bonds for around Rs 500 crore in the next three-four weeks, sources said. Along with Navi Mumbai and Pune munocipal bodies, NDMC has a credit rating of AA+. NDMC derives its income from four main sources, which in order of importance are charges from sale of electricity, income from municipal works, property taxes and charges from sale of water. The municipal body plans to use the funds for proposed projects including smart school, digital interactive panels, smart parking, smart dustbins, smart roads and smart healthcare services, as it attempts to meet its smart city mission, a senior government official said. “This bond issue will be guaranteed by the central government,” the official said. NDMC is one of the first twenty cities selected under Smart Cities Mission of the central government. It has formed a special purpose vehicle (SPV) namely “New Delhi Municipal Council Smart City”.

“The SPV has received a grant of Rs 194 crore from the urban development ministry, and Rs 56 crore from NDMC, thereby bringing the seed capital to Rs 250 crore,” the official added.

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