Tripura: Agartala civic body plans Rs 100 crore municipal bond, first in Northeast
Reported by Mrinal Banik
Agartala: The Agartala Municipal Corporation (AMC) has proposed raising Rs 100 crore through municipal bonds to fund key urban development projects, becoming the first civic body in the Northeast to adopt this financing mechanism, Mayor Dipak Majumder told reporters.
The proposal was announced on Monday during the corporation’s budget session, where Mayor Dipak Majumder presented the AMC’s budget for the 2026–27 financial year with a total outlay of Rs 975.91 crore.
According to the budget estimates, the civic body expects receipts of Rs 974.93 crore against an expenditure of Rs 975.91 crore, leaving a projected deficit of Rs 97.67 lakh. The budget does not propose any new taxes.
Majumder said the bond proceeds would be utilised for the redevelopment and modernisation of four major markets in the city — Lake Chowmuhani Bazar, Durga Chowmuhani Bazar, GB Bazar and Border Gol Chakkar Bazar.
He said AMC was pioneering the municipal bond route in the Northeast and expected to mobilise Rs 100 crore through the initiative for infrastructure improvement projects.
The mayor also noted that the current budget is the corporation’s first paperless, or e-budget.
A significant share of the expenditure, amounting to Rs 536.45 crore, has been earmarked for capital works, reflecting the corporation’s focus on strengthening civic infrastructure and public facilities.
As part of the proposed spending, Rs 108 crore has been allocated for urban infrastructure projects across different areas of Agartala.
In addition, projects supported by the Asian Development Bank are expected to bring in Rs 167 crore for road development, drainage upgrades, and the construction of a new water treatment facility.
The budget further provides Rs 20 crore under the Urban Infrastructure Development Fund (UIDF). Another Rs 1 crore has been earmarked for establishing slaughterhouses in locations including Bhattapukur, Pratapgarh, and the Pragati School area.
Majumder said the corporation would install three new electric cremation furnaces at Battala and Chinaihani and undertake measures to improve burial facilities used by minority communities.
To strengthen revenue collection, tax payment and collection facilities will be introduced in all ward offices, he said.
Highlighting the corporation’s revenue strategy, the mayor said no new taxes had been imposed since 2021 and that improved administration and better revenue mobilisation had enabled the civic body to take up multiple development initiatives.
Among the major announcements in the budget was a proposal to establish a 50-bed paperless Agartala Civil Hospital, which will offer specialist outpatient services during evening hours.
The mayor said the budget had been prepared with a focus on long-term urban growth, infrastructure expansion, and improved delivery of civic services.