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UP CM Yogi Adityanath launches bond of Lucknow Municipal Corporation, meets industrialists & Bollywood personalities

According to the Chief Minister's Office, the Lucknow Municipal Corporation has become the first civic body in north India to issue bonds, even as the process of issuing municipal bonds by civic bodies started in the country in 1997.

UP CM Yogi Adityanath launches bond of Lucknow Municipal Corporation, meets industrialists & Bollywood personalities
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For the first time, Lucknow Municipal Corporation (LMC) bonds worth ₹200 crores were listed on Bombay Stock Exchange (BSE) in Mumbai on Wednesday, December 2 with Chief Minister Yogi Adityanath ringing the bell to mark the listing.

Adityanath stated that it is a matter of pride for UP that the Lucknow Municipal Corporation to have raised ₹200 crores through its bonds, which got listed on the BSE today. While addressing media, he said, "It is the trust of the investors, which UP has earned during the last three-and-a-half years. It will augment our effort to improve infrastructure in urban areas. It shows the improvement in the industrial climate of the state and the trust the investors have reposed in the machinery."

  

According to the Chief Minister's Office, the Lucknow Municipal Corporation has become the first civic body in north India to issue bonds, even as the process of issuing municipal bonds by civic bodies started in the country in 1997.

As per government’s data, the state capital is now one of the eight cities in India to fund the AMRUT and Smart Cities Mission with municipal bonds generally being used for financing public projects.

Adityanath had arrived in Mumbai late Tuesday night, on December 2. According to sources, the CM's visit is regarding the development of a film city in Noida.

During his visit, the UP CM met the business tycoons like N Chandrasekaran of Tata Sons, SN Subramaniam of Larsen & Toubro, Sukaran Singh of Tata Advanced Systems, Ashish Rajvansh of Adani Defence, Rajat Gupta of Ashok Leyland Grop, Harshvardhan of Tata Defence Technology, Niranjan Hiranandani of Hiranandani Group, Baba Kalyani of Bharat Force, Suprakash Chaudhary of Simmons, Vikas Jain of Capital Services, Sanjay Nair of KKR Ltd, Jaspal Bindra Centrum Capital Ltd, TS Darbari of Texmaco Defence Systems, among others. He held discussions on various issues.

 

Later, Adityanath spoke at the press conference around 3 pm. Apart from that, Yogi met UP Film Development Council chairman Raju Srivastava, Gorakhpur MP and artist Ravi Kishan, Dinesh Yadav ‘Nirhua’, Randeep Hooda, Arjun Rampal and Satish Kaushik, said sources.

Other Bollywood personalities he met include Subhash Ghai, Rajkumar Santoshi, Bonnie Kapoor, Bhushan Kumar, Rahul Mitra, Madhur Bhandarkar, Neeraj Pathak, Randeep Hooda, Tigmanshu Dhulia, Jimmy Shergill and many more.

Meanwhile, Actor Akshay Kumar was one of the first to meet the Chief Minister over dinner and as per sources the two of them discussed the potential for film production in UP and how the state government was providing facilities to film producers.

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