Developing a Regulatory Framework for Municipal Borrowing in India

World Bank

World Bank, New Delhi

关键词: ACCOUNTING;    ACCRUAL ACCOUNTING;    ASSET CLASSIFICATION;    ASSET VALUES;    AUCTION;   

RP-ID  :  67120

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This report provides an overview of themunicipal debt market as it exists and has evolved over thepast ten years. It provides an assessment of trends andpatterns from both bank and bond sources covering all typesof municipal governments. The overall objective of the workis to assess the regulatory environment pertaining tomunicipal borrowing in the country and to generaterecommendations to improve this in a manner which expandsmunicipal access to private debt finance while ensuring thatrisk is appropriately allocated and properly priced. Moreparticularly, this report: 1) outlines the need andrationale for expanding access to credit finance on part ofmunicipalities in India; 2) provides an overview of theexisting municipal debt market; 3) provides an overview ofthe chief characteristics of the regulatory environmentpertaining to municipal borrowing in India, places theexisting regulatory system in international context, andoutlines a suggested overall direction for reform; and 4)provides specific recommendations to improve the regulatoryregimes over which the state and union governments haverespective control.