Udaipur has been awarded a BBB plus credit rating under the smart city mission project. A total of 87 cities undertook the credit rating exercise with 16 cities completing the process and 12 being awarded a rating.

The 12 cities that have been awarded a credit rating include:

• AA rating: Pune
• AA- rating: Ahmedabad and New Delhi
• A rating: Vishakhapatnam
• A- rating: Jaipur
• BBB+ rating: Udaipur, Kota, Ajmer
• BBB rating: Tirupati, Kakinada, Bhubaneswar
• BB+ rating: Rourkela

The credit ratings are important for raising the much needed resources to be raised through municipal bonds.

The details were given out by urban Development Minister M. Venkaiah Naidu. He also mentioned that under smart city mission, 87 projects in 19 cities amounting to Rs 5,768 cr are under execution and seven projects have already been completed. He added that another 80 projects worth Rs 4,448 cr are close to being awarded.