The cities are the centres of India's economic and demographic future. However, their infrastructure cannot be funded solely by grants and subsidies. Municipal bonds, issued through public offerings or private placements, are becoming a key link between the capital markets and urban development. Properly organised and professionally administered, these tools will bring fiscal restraint, access to long-term funding and allow cities to change their reliance on grants to actual creditworthiness. We are also remaking urban finance, and municipal bonds are not merely an option- it is also a stone whose presence is necessary to construct strong, responsible, and investment-capable Indian cities.