Agra, Prayagraj & Varanasi Set to Raise ₹50 Cr Each via Municipal Bonds - Boosting Tourism & Infrastructure

• Municipal Corporations of Agra, Prayagraj and Varanasi are likely to raise bonds. They are expected to raise Rs. 50 crores each.
• Out of the 17 municipal corporations in the state, only Lucknow and Ghaziabad have raised bonds so far.
• In Prayagraj, the Rs. 50 cr bond issue is to finance healthcare facilities.
• In Agra, the MC plans to set up a solar power plant, while upgrading tourist facilities and establishing co-working spaces.
• In Varanasi, the bond issue is to finance a hotel complex near Sigra Stadium and a market complex.
• All these MCs have a 'AA' rating for their proposed bond issue.
• What else is common to these three cities ? That they are significant tourist centres.

The bonds are expected to do well given their high ratings and the strong economic base of these cities.