India, Feb. 1 -- Finance Minister Nirmala Sitharaman on Sunday proposed incentives of Rs 100 crore for municipal corporations undertaking a single bond issuance exceeding Rs 1,000 crore, aimed at encouraging greater participation in the municipal bond market and strengthening urban infrastructure financing.
As part of broader reforms to reinforce public sector financial institutions, the government also announced the restructuring of REC Limited (formerly Rural Electrification Corporation) and Power Finance Corporation.
Additionally, the minister proposed setting up a high-level committee on 'Banking for Viksit Bharat' to support the long-term development of the financial ecosystem.
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