And Ahmedabad is not the only city from Gujarat to make it to the list. Gujarat’s ‘Diamond City’ Surat has topped the list with Nashik after notching the highest average household income in India and best GDP growth. Moreover, Vadodara and Rajkot too have found a place for themselves in the top 10 list.

Leading rating agencies Crisil and ICRA have graded the Indian cities’ urban civic bodies based on the utilization of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) funds and other parameters, including operating and financial efficiency.

Simply put, if the municipal corporations of these cities decide to issue bonds, the takers would reap rich dividends.
Crisil and ICRA had recently carried out this exercise of giving corporate credit ratings (CCRs) to 69 urban local bodies (ULBs) under the mandate from Union ministry for urban development, as a part of JNNURM.

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