Lucknow, Ghaziabad to float municipal bonds worth Rs 350 cr for infra

UP cabinet approves first such proposals in the state, instruments likely to be out in a month, with listing on BSE or NSE

Lucknow and Ghaziabad, two of the biggest urban centres in Uttar Pradesh, will soon float municipal bonds totalling Rs 350 crore to fund infra projects.

A state cabinet meeting chaired by chief minister Yogi Adityanath here today approved the proposal of floating bonds by the respective municipal corporations of the two cities.

A municipal bond is