The Ahmedabad Municipal Corporation (AMC) is preparing to issue a ₹1,000 crore (approximately $120 million USD) bond in the fiscal year 2027, which would make it the first civic body in India to undertake such a large municipal bond issuance. This move is particularly significant as it coincides with the Union budget's provision of a ₹100 crore incentive for municipal bodies that raise ₹1,000 crore through bond markets, effectively reducing their borrowing costs by 1-1.5 percentage points. Currently, the largest bond issuance in India is from the Indore Municipal Corporation, which raised ₹244 crore earlier this year. The total outstanding municipal bond market in India stands at approximately ₹4,340 crore. AMC's existing bonds amount to ₹400 crore, while the Greater Hyderabad Municipal Corporation has the largest outstanding bonds at ₹495 crore. The AMC's bond issuance is still pending approvals from internal committees, with key details such as tenure yet to be finalized.