Number Theory: RBI report highlights key fiscal challenges of civic corporations

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Indian cities are growing continuously and almost all of them are in a mess. Going forward, urban governance is going to be crucial for both equality and sustainability. In order to achieve this, the third tier government in cities, the municipal corporations, need to get their act together. Doing this requires that they become financially self-sufficient. The second edition of RBI’s Report on Municipal Finances, which was released on Tuesday, shows that this is still a big challenge India. Here are three key takeaways from the report.

The Reserve Bank of India. (Reuters)