Multiple choice general knowledge

Which was the first Indian city to float municiple bonds to finance development of its basic infrastructure?

  1. Allahabad

  2. Mumbai

  3. Kolkata

  4. Ahmedabad

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Ahmedabad became the first Indian city to issue municipal bonds in 1998 to finance infrastructure development. This innovative financing mechanism was pioneered by the Ahmedabad Municipal Corporation. Mumbai, Kolkata, and Allahabad did issue municipal bonds later, but Ahmedabad was the pioneer.