Increasing Resources to Local Government

International Council for Local Environmental Initiatives
In the mid 1990s, AMC began instituting significant fiscal and management reforms, including improving tax collection, computerizing the accounting system, strengthening AMC’s work force and financial management, and developing a comprehensive capital improvement program.
These reforms laid the necessary groundwork for AMC to issue the first municipal bond issued in India without a state guarantee and enabled AMC
to partner with the business community, NGOs and other organizations to undertake new development initiatives. The bonds represented the
first step toward a fully market-based system of local government finance.
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