Current Affairs

UPSC CITY FINANCE RANKINGS 2022 - English

CITY FINANCE RANKINGS 2022

Why in News?

Recently, the Ministry of Housing & Urban Affairs has launched guidelines for a new City Finance Rankings 2022.

A ‘City Beauty Competition’ initiative was also launched to encourage and recognise the transformational efforts made by cities and wards in India towards creating beautiful, innovative and inclusive public spaces. All the Participating cities will be evaluated on 15 indicators across three key municipal finance assessment parameters, namely:

• Resource Mobilization
• Expenditure Performance
• Fiscal Governance.

The cities will be ranked at the national level based on their scores under any one of the following four population categories:

• Above 4 million
• Between 1-4 million
• 100,000 to 1 million
• Less than 100,000

The top 3 cities in each population category will be recognized and rewarded at the national level as well as within each state/state cluster.

Significance:

• It will help identify areas in the financial performance of the cities where they can make further improvements.
• It will motivate city/state officials and decision-makers, to implement municipal finance reforms.
• It will enable them to deliver quality infrastructure and services, and hence a good quality of life to citizens.
• At a state- and national level, the rankings will highlight the outcomes achieved by municipalities and provide critical insights to key policymakers into the state of finances of urban local bodies.

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