Mumbai: The Brihanmumbai Municipal Corporation (BMC) plans to raise Municipal Green Bonds to finance sustainable infrastructure like wastewater treatment and desalination plants. In its budget document for the year 2026-27, the BMC claims that this will support India’s sustainable development goals, Mumbai’s Climate Action Plan, and attracting Environmental, social and governance focused investors.
Credit rating agency appointment initiated after Budget 2026 incentives
Municipal Commissioner Bhushan Gagrani in his budget speech highlighted that the Finance Minister announced a Rs. 100 crore incentive for a single Rs. 1,000 crore municipal bond issuance in Budget 2026, alongside AMRUT 2.0 incentives. BMC has initiated the appointment of a credit rating agency to move forward with raising Green Bonds for sustainable development projects.
The budget also proposes monetising revenue-generating assets through Infrastructure Investment Trusts (InvITs), which would own and operate assets such as roads, municipal markets, parking lots, and commercial spaces. Funds raised from retail and institutional investors can be used to acquire new assets, retire debt, or complete major projects. Gagrani clarified that monetisation would involve creating leasehold rights on land not reserved for public use, like gardens or open spaces.
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