The fifth State Finance Commission (SFC) has asked urban local bodies (municipalities and municipal corporations) to design long-term strategies to boost revenue using its revenue base.
Commission chairman C. Narayanaswamy and members Mohammad Sanaulla, S. Phonde, and UjjwalKumar Ghosh Managing Director, Karnataka State Financial Corporation, chaired a meeting to evaluate the financial position of ULBs and Panchayat Raj institutions and make its recommendations to the government.
The officials of Municipal Corporations from seven districts of Kalyana Karnataka region provided the details of financial progress of their respective corporations and ULBs. The officials expressed that the corporations are gasping for funds, though the action plan was submitted well in-advance there was a delay in releasing the funds. The lack of funds hampered implementation of work.
