The GCDA office at Kadavanthra in Kochi. | Photo credit: H. Vibhu
The Greater Cochin Development Authority (GCDA) has requested the Seventh State Finance Commission to take steps to elevate it as a metropolitan development authority and also to grant the authority with powers to issue municipal bonds.
The requests were made in a meeting chaired by Commission chairman Kn Harilal. GCDA Chairman K. Chandran Pillai spoke about projects undertaken by the authority and the need to strengthen and retain the authority for the development of the region. He cited the need for planned development and elevating the GCDA as a metropolitan development authority. Granting permission to issue municipal bonds will help implement projects in a better way, he said.
Mr. Pillai further sought government grants to implement and maintain public infrastructure projects and for initiatives such as transit-oriented development (TOD) and land pooling. He also cited the need to appoint a finance officer to improve the authority’s fiscal discipline.
Harilal said the requests would be considered.
Published – January 28, 2025 01:10 am ist
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