The City Finance Rankings 2022 portal www.cityfinance.in/rankings has been made live by the ministry of housing and urban affairs on March 20, 2023. Urban-local bodies (ULBs) across the country can now participate in the rankings through an entirely digital, 100% paperless, process. The City Finance Rankings-2022 have been launched with the objective of evaluating, recognising and rewarding municipal bodies across the country on the basis of the quality of their current financial health and improvement over time in financial performance.
Under the guidelines of the City Finance Rankings 2022, which had been launched by housing minister Hardeep Singh Puri on December 28, 2022, the participating ULBs will be evaluated on 15 indicators across 3 key municipal finance assessment parameters: resource mobilisation, expenditure performance and fiscal governance.
The cities will be ranked based on their scores under any one of the following four population categories:
Above 4 million
Between 1-4 million
100,000 to 1 million
Less than 100,000
The Top-3 cities in each population category will be recognised and rewarded at the national level as well as within each state/state cluster.
The last date for participating in the rankings is May 31, 2023. The participating ULBs can submit the required data/documents (including audited accounts, annual budgets, and self-reported performance metrics) through the online facility. After verification and validation of the data, the final rankings are expected to be announced in July 2023.
The City Finance Rankings will provide critical insights to policy makers into the state of finances of urban local bodies. ULBs will also stand to benefit by participating in the fiscal rankings as they will be able to evaluate their own performance vis-à-vis other cities, which will motivate them for improvement in future.
