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 vest the authority with powers to issue municipal bonds.
The requests were placed at a meeting presided over by Commission Chairman K.N. Harilal. GCDA Chairman K. Chandran Pillai spoke of 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 manner, he said.
Mr. Pillai further sought grants from the government to implement and maintain public infrastructure projects and for initiatives like transit-oriented development (TOD) and land pooling. He also cited the need to appoint a finance officer to improve the authority’s fiscal discipline.
Mr. Harilal said the requests would be considered.
Published – January 28, 2025 01:10 am IST
