SDMC gets 'AA+' rating from ICRA

The South Delhi Municipal Corporation today claimed that it has earned "AA+" rating from a domestic rating agency.
Municipal Commissioner P K Goel said the rating from ICRA has become possible only due to persistent efforts to augment its revenue from the available sources of income.
He said the earnings from property tax has achieved new heights by collection of Rs 901.57 crore during the financial year 2016-17 compared to the figure of Rs 650.56 crore in 2015-16.
The Commissioner said the credit rating of AA+ has set a trust in the financial working of the SDMC and has established that it has a "sound financial health".

"The SDMC has also repaid its loan and interest taken from Delhi government on a regular basis," he added.
Incidentally, the other two civic bodies -- NDMC and EDMC -- are both cash-strapped.