Standardising financial information on cities, nationally
Launched by the Ministry of Housing and Urban Affairs in May 2020, cityfinance.in is a national municipal finance portal that serves as a framework of standardised, timely, and credible information on cities.
cityfinance.in was conceived by Janaagraha as a portal for hosting the audited annual accounts of cities. It facilitates benchmarking, comparison, and peer learning between cities on a range of financial and operational performance indicators.
The portal also houses the 15th Finance Commission online grant management system to streamline the administration of FC grants to ULBs. The system includes elements of observability, traceability, digital verification and online monitoring to ensure that each stakeholder (whether it is the MoHUA, the State, or a ULB) knows the status of compliance, grant due and the status of grant release.
In December 2022, the Ministry (MoHUA) launched the City Finance Rankings initiative, completely powered on its www.cityfinance.in platform, to evaluate, recognize, and reward India’s cities on their financial health and improvement in financial performance over time. The rankings will provide critical insights into the state of city finances and guide policy decisions. They will also serve as motivation for city and state officials to implement municipal finance reform.