Budget incentives revive municipal bonds, but without restoring 2017 rigour and adding climate safeguards, cities risk fragile debt growth.
Sharmila Chavaly
February 25, 2026 at 7:22 AM IST
MCGM
India has economic scale and military strength, but without a deep bond market, it remains a limited power.
Rahul Ghosh
February 9, 2026 at 10:58 AM IST
Enhanced budget incentives and stable fiscal transfers will strengthen municipal bond supply, encourage market-based funding for urban infrastructure and support gradual scaling up of issuance sizes.
BasisPoint Insight
February 9, 2026 at 9:46 AM IST
India’s growth has turned decisively urban, but the financial foundations of its cities remain weak. Unless municipal finance, land monetisation and city-level balance sheets are fixed, urban India will become the binding constraint in the next phase of growth.
Srinath Sridharan
January 14, 2026 at 6:52 AM IST
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