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NMMC Attains AA+ Rating For The Seventh Consecutive Year

NMMC has been accorded the AA+ stable rating by the India Rating and Research (IRR) for its financial execution in the fiscal year 2020-21.

NMMC Attains AA+ Rating For The Seventh Consecutive Year
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For the seventh year in a row, the Navi Mumbai Municipal Corporation (NMMC) has been accorded the AA+ stable rating by the India Rating and Research (IRR) for its financial execution in the fiscal year 2020-21, reported the Times of India.

The ranking is a depiction of the financial stability of the civic authority and its administrative intelligence to undertake efficient utilization of its funds.

According to the report, Abhijit Bangar the commissioner of NMMC elaborated on how the NMMC was the first civic body in India to be ranked stable financially for seven consecutive years adding that this speaks to the authority’s skill to curate a practical budget and implement it successfully. He then emphasized the quality of services offered to the citizens, saying that it is self-sustained and doesn’t have any debts in loans or interests to either the government or its agencies.

To this, the officials mentioned that this achievement was attainable owing to the consistency in collections of taxes in spite of the coronavirus pandemic.

On other developments, last week the NMMC stated that it had fully vaccinated over 50% of its population which is 5.4 lakh citizens with the coronavirus vaccine. 

In addition to this, the Maharashtra bandh imposed by the MVA government on Monday impacted Navi Mumbai.

Also Read: Mumbai University: Rating From NAAC Valid Till 2028

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