INNOVATIVE FINANCING FOR URBAN INFRASTRUCTURE AND MUNICIPAL SERVICES IN CHANDIGARH CITY

Abstract

With urbanisation spreading across the globe, it has become imperative upon the governments to regulate it and ensure that it takes place in a sustainable manner. Most of this urbanisation will take place in countries which are currently under-developed or developing and are poised to witness a shift towards developed status in the next few decades. These countries are mostly located in Africa and Asia and that is where the maximum demand for sustainable development practices will emerge from. If this demand for organised development is not answered in a timely manner, it will create cities where citizens will struggle to possess even basic necessities like clean drinking water, affordable housing, employment, health facilities etc. Therefore, there is an urgent need for the governments all over the world to recognise this challenge as an opportunity to create cities which are clean, safe, green and sustainable cities. These cities require different kinds of infrastructure and other services to provide a decent quality of life to the people. The amount of investments required to meet this infrastructure demands are huge as estimated by some of the reports published recently