FRANCHISE TRADE NOW OPEN AN ACCOUNT GLOBE E-KYC
Economy News
Prev Next
As on Apr 25, 2017 12:00 AM Your results on : Economy News    
World Bank Board Approves US$ 116.20 Million Project to Strengthen Capacity of Urban Bodies in Madhya Pradesh, India
25-Apr-2017 (17:38)
The World Bank Board approved a US$116.20 million loan for the Madhya Pradesh Urban Development Project to strengthen the financial and administrative capacity of the Madhya Pradesh Urban Development Company (MPUDC). MPUDC will serve as a nodal implementing agency for the state and support Urban Local Bodies (ULBs) to implement citywide infrastructure improvement projects.

Based on the World Bank's previous engagement with similar state municipal finance agencies in Tamil Nadu and Karnataka, as well as its international experience in developing and strengthening similar institutions, the Government of Madhya Pradesh (GoMP) has now sought World Bank support for the institutional development of the MPUDC to help improve key urban services provided by ULBs, mainly in the areas of water and sanitation. MPUDC will also support GoMP prepare a plan for developing the Bhopal Indore Super Corridor (BISCO) region.

The project will support urban policy reforms in the state as identified under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT), a mission aimed at transforming 500 cities and towns into efficient urban living spaces. At least 51 ULBs have been selected to implement these reforms.

Over 850,000 urban residents, of which at least 45 percent will be women, are expected to benefit directly through access to improved urban services across a range of urban sectors, mostly water and sanitation. With the consolidation of MPUDC as a nodal implementing agency of the state, many more residents are expected to be benefited through a series of investments undertaken by other development agencies and central government schemes.

Over the years Madhya Pradesh has undertaken some key reform actions in the urban sector like the enactment of the Madhya Pradesh Public Services Guarantee Act to ensure timely delivery of essential municipal services from a single window; establishment of citizen facilitation centers; introduction of common tendering and integrated computerized standard schedule of rates; design of a municipal e-governance system for all ULBs in the state (e-Nagar Palika); and development of automated building plan permission systems among others.

However, the state continues to face relatively low levels of access to basic services such as water, sewerage, street lighting, refuse disposal, and lighting. Three in ten poor people in urban MP have no access to piped water; and over half have no sanitation.

The project will support six areas of urban policy reforms for 51 ULBs. They include reforms related to property tax, user charges, advertisement tax, accounting, budgeting, and credit improvement. It will help improve the efficiency in property tax collection, develop a state-level policy for user charges, monitor reforms to ensure that all ULBs migrate completely to double entry accrual systems as part of its e-Nagar Palika initiative, and revamp the budgeting process in certain ULBs to enable them to clearly forecast their increased financial obligations to manage investments, among others. These reform areas have been selected from the list of reforms identified by the national AMRUT program.

Climate change co-benefits

Madhya Pradesh is considered to be vulnerable to climate change. It is highly susceptible to variations in distribution and patterns of rainfall, which, in turn, affects access to drinking water currently sourced largely (almost 95 percent) from underground sources. The 2014 MP State Action Plan on Climate Change (SAPCC) has identified water pollution as a critical area of concern, and treatment of municipal wastewater is a stated priority of the government. This project will address some of the climate vulnerabilities through its infrastructure investments. It is estimated that US$36.5 million or 31.4 percent of the loan will result in climate change co-benefits through investments in water supply and sewerage.

“The objective of this project is to develop institutions to ensure that good-quality urban infrastructure projects are made sustainable at the local level. The focus of this project is to support the Government of Madhya Pradesh develop the right rules, procedures, human capital and technical capacity of the MPUDC so that it can strengthen the ULBs to perform efficiently,” said Uri Raich and Abhijit Ray, World Bank's Senior Urban Specialists and co-Task Team Leaders for the project.

The loan, from the International Bank for Reconstruction and Development (IBRD), has a 5-year grace period and a final maturity of 35 years.

Centre Takes Ten New Swachh Iconic Places under Swachh Bharat Mission
25-Apr-2017 (17:12)
GST is a win-win situation for the entire country
25-Apr-2017 (16:44)
India's natural gas production up 8.3% in March 2017
25-Apr-2017 (15:50)
India's crude oil refinery output rises 1.8% in March 2017
25-Apr-2017 (15:48)
India's crude oil production rises 0.9% in March 2017
25-Apr-2017 (15:47)
World Bank Approves $375 Million to Help India Develop its First Modern Waterway
25-Apr-2017 (15:36)
World Bank To Provide US$ 600 million (approx. Rs 3,870 crore) Across Four New Projects in Jharkhand
25-Apr-2017 (14:56)
Government and World Bank Sign New Agreement for Better Water Planning and Management Across India
25-Apr-2017 (14:10)
99 Percent Telecom-related complaints get resolved on Twitter
25-Apr-2017 (13:54)
ADB Lending Hits Record High in its 50th Year as Infrastructure Demand Rises
25-Apr-2017 (11:36)
FICCI urges the Government to finalise and announce the Tourism Policy this year itself
25-Apr-2017 (12:09)
India Ratings Affirms ONGC Petro Additions at 'IND A+'/Positive
25-Apr-2017 (08:55)
Government Printing Press to be upgraded at a cost of Rs.338 crore
24-Apr-2017 (17:44)
Multilateral Banks to Deepen Collaboration with Private Sector to Boost Inclusive, Sustainable Infrastructure
24-Apr-2017 (13:32)
Fitch: RBI Strengthens Tools to Intervene in Ailing Indian Banks
24-Apr-2017 (10:49)
India can Marry Age Dividend and Skill Development for Global Leadership in Services Exports: Commerce Secretary
24-Apr-2017 (09:20)
Make in India gets metro boost; local procurement made mandatory
24-Apr-2017 (08:55)
Date for filing of declaration under PMGKY extended up
22-Apr-2017 (15:49)
One Crore MGNREGA assets geotagged
22-Apr-2017 (11:44)
Connect with us :   
Globe
About us
Our Services
Milestones
Memberships
Core Values
Investor Relations
Product & Services
Broking
Institutional Broking
PMS
Clearing Services
Distribution
Research
Depository
Trade & Products
Globe Connect Pro
Globe Trade Smart
Globe Connect Mobile/Tablet
Globe News Connect
Back Office
Back Office
CMS
CMS-TM
KYC/KDC Status
Mutual Fund
CAMS
RMS Policy
Helpdesk
Download Forms
Useful Links
BSE
NSE
SEBI
RBI
MCX
NCDEX
Exchange Holidays
Policies, Procedures, Rights, Obligations and RDD
Guidance Note on FATCA and CRS May 2016
Right and Obligation, RDD, Guidance Note in Vernacular Language
In case of any grievances pleae write to
Investor_trading@globecapital.com /  igr@globecapital.com (For Trading)     globedp@globecapital.com (For DP)    Investor_pms@globecapital.com (For PMS)     
commigr@globecapital.com (For Commodities)
SEBI Regn. No. NSE.:INB/INF/INE 230663732, TM No.:06637, Clearing No.- M50302 | SEBI Regn. No. BSE.:INB/INF/INE 010663731, Clearing No.- 3179 | SEBI Regn No. MSEI :INB/F 260663738, INE 260663732, TM Code-1004, Clearing Member Code- 4 | USE SEBI Regn no. - INE 270663732 , CM code: 06637 | SEBI Regn for DP : IN-DP-NSDL-97-99, NSDL- DP ID: IN300966, CDSL DP ID: 12020600 | Research Analysts Regn No. INH100001187 | PMS Regn No. INP000002361
* Through subsidiary Globe Commodities Ltd. --> Commodity Membership No.: NCDEX- FMC Regn. No. NCDEX/TCM/CORP/0004, TM Code-00012 | MCX- FMC Regn. No. MCX/TCM/CORP/0628, CM Code-8550 | ICEX- FMC Regn. No. ICEX/TCM/CORP/0011, TM Code- 1009 | NMCE- FMC Regn. No. NMCE/TCM/CORP/0018, TM Code-CL0111 | ACE - FMC Registration no.- ACEL/TCM/CORP/0163, TM code- 4001 | UCX FMC Regn. No.: UCX/TCM?CORP/0014, TM Code- 10014 | NCDEX Spot Exchange Membership no.- NCDEXSPOT-CR-07-10011
** Through step in subsidiary Globe Comex International DMCC --> DGCX **TM Id.1064, CM Id.3064*
"We also do Pro-Account trading in Commodity Segment.."
"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."
Attention Investors:
"Prevent Unauthorised transactions in your account --> Update your mobile numbers/email IDs with your Stock Brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day .......... Issued in the interest of investors"
"Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL/CDSL on the same day......................issued in the interest of investors."
"No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
© 2013 Globe Capital Market Limited. All rights reserved
Designed, Developed and Content powered by C-MOTS Infotech (ISO 9001:2008 Certified) Privacy Policy Disclaimer Terms and Conditions