AAP secures win with 134 seats in municipal polls, ends 15-year rule of BJP
- Aam Aadmi Party (AAP) saw a sweeping win at the MCD election result 2022 that was declared on Wednesday.
- Aam Aadmi Party won the municipal elections, bagging 134 of 250 wards. It had bagged 48 out of 272 seats in 2017.
- The BJP won 104 wards. Its tally was 181 in 2017.
- Congress won only nine municipal wards from 31 won by the party in 2017 civic body polls.
- All the three independent candidates who have won are women
- The MCD election 2022 was a tri-cornered fight between the AAP, the BJP and the Congress.
About The Urban Local Government
The Urban Local Government consists of eight types of Urban local bodies.
- Municipal Corporation:
- Municipal corporations are usually found in big cities such as Bangalore, Delhi, Mumbai, Kolkata, etc.
- Municipality:
- The smaller cities tend to have the provision of municipalities.
- The Municipalities are often called upon by other names such as the municipal council, municipal committee, municipal board, etc.
- Notified Area Committee:
- Notified area committees are set up for the fast-developing towns and the towns lacking the basic amenities.
- All the members of the notified area committee are nominated by the state government.
- Notified area committees are set up for the fast-developing towns and the towns lacking the basic amenities.
- The smaller cities tend to have the provision of municipalities.
Town Area Committee:
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- The town area committee is found in the small towns.
- It has minimal authority such as street lighting, drainage roads, and conservancy.
- Cantonment Board:
- It is usually set up for a civilian population living in the cantonment area.
- It is created and run by the central government.
- It is usually set up for a civilian population living in the cantonment area.
- Township:
- Township is another form of urban government to provide basic facilities to the staff and workers living in the colonies established near the plant.
- It has no elected members and is merely an extension of the bureaucratic structure.
- Township is another form of urban government to provide basic facilities to the staff and workers living in the colonies established near the plant.
- Port Trust
- Port trusts are established in the port areas such as Mumbai, Chennai, Kolkata,
- It manages and takes care of the port.
- It also provides basic civic amenities to the people living in that area.
- Port trusts are established in the port areas such as Mumbai, Chennai, Kolkata,
- Special Purpose Agency:
- These agencies undertake the designated activities or specific functions belonging to the municipal corporations or municipalities.
- The town area committee is found in the small towns.
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RBI goes slow on rates, limits increase to 35 bps
- The Reserve Bank of India (RBI) on Wednesday raised the policy repo rate by 35 basis points (bps) to 6.25%, downshifting gears from consecutive increases of 50 bps, and scaled down GDP growth hopes for the year to 6.8% from 7%, even as Governor Shaktikanta Das exuded confidence about the economy being resilient and asserted that “the worst of inflation” was behind us.
- A 100 basis points equal one percentage point. The central bank retained its inflation projection for 2022-23 at 6.7%, noting that inflation will ease but stay well above the 6% upper tolerance limit set for the RBI.
- The RBI now expects inflation to average 5.9% in the January to March 2023 quarter, drop to 5% in the first quarter (Q1) of 2023-24 and edge up to 5.4% between July and September 2023, assuming a normal monsoon
