Consider the following Statements and choose the option with Correct Statements.

I- The ‘City Finance Rankings, 2022’ aim to evaluate, recognize and reward India’s cities (Urban Local Bodies or ULBs) on the basis of the quality of their current financial health and improvement over time in financial performance.

II- The participating ULBs will be evaluated on 20 indicators.

III- The cities will be ranked at the national level on the basis of their scores under 3 population categories.

Solution

Explanation: The ‘City Finance Rankings, 2022’ aim to evaluate, recognize and reward India’s cities (Urban Local Bodies or ULBs) on the basis of the quality of their current financial health and improvement over time in financial performance. The rankings aim to motivate city/state officials and decision makers, to implement municipal finance reforms. The participating ULBs will be evaluated on 15 indicators across three key municipal finance assessment parameters, namely: (i) Resource Mobilization, (ii) Expenditure Performance and (iii) Fiscal Governance. The cities will be ranked at the national level on the basis of their scores under any one of the following four population categories: (i) Above 4 million (ii) Between 1-4 million (iii) 100K to 1 million (iv) Less than 100,000. The top 3 cities in each population category will be recognized and rewarded at the national level as well as within each state/state cluster. The participating ULBs shall be invited to submit the required data/documents (including audited accounts, annual budgets, and self-reported performance metrics) through the online facility created on www.cityfinance.in.