Crowdfunding: Can It Support Urban Local Bodies in India?

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Author(s): Jyoti Chandiramani (Symbiosis International University, India)and Gargi Patil (Symbiosis International University, India)
Copyright: 2018
Pages: 23
Source title: Crowdfunding and Sustainable Urban Development in Emerging Economies
Source Author(s)/Editor(s): Umar G. Benna (Ahmadu Bello University, Nigeria)and Abubakar U. Benna (Durham University, UK)
DOI: 10.4018/978-1-5225-3952-0.ch012

Keywords: Business Science Reference / E-Commerce / Environment & Agriculture / Sustainable Development

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Abstract

The chapter studies and attempts to understand the idea of crowdfunding and the possibility of it being adopted and adapted within the urban Indian framework. It explores the potential of crowdfunding – the civic variety, which can supplement a small but meaningful percentage of financial resources required to provide urban services in Indian cities. The objective of using the crowdfunding platform is to create sustainable and livable cities. While the delivery of basic urban services is the responsibility of the urban local bodies, it is observed that the available financial resources at their disposal poses an impediment in service delivery. With the process of urbanization gaining momentum, India will require billions of dollars to build the much-needed urban infrastructure and provide basic urban services. It is envisaged that civic crowdfunding, which addresses the varied requirements of urban citizens, may be the appropriate solution to the problem.

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