ULBSUnity Lever Braking System (motorcycle technology)
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According to an official statement, all 17 functions of the 18 as envisaged in the 12th schedule of the Constitution have been devolved to ULBs in Karnataka.
The project also envisages creation of a reserve fund to provide credit enhancements for municipal bonds and other market based Loan instruments issued by ULBs.
Adopting an innovative mode of financing in the form of 'Government Citizen Partnership (GOCIP) Bonds' where citizens invest in the bonds floated by ULBs to improve urban infrastructure and urban civic services is one such option, it said.
The matter of exercising financial control in ULBs has gained much importance over the years.
For augmenting the resources of the ULBs in Punjab, our focus in this paper would be on the following measures:
Speaking on the occasion, Rajamony said that one of the Central government's major urban development objective is to create economically productive, efficient, equitable, inclusive and responsive ULBs and achieving this objective will not only help sustain high rates of economic growth, but also accelerate poverty reduction and improve services, especially to the urban poor.