The Local government in the modern world is experiencing profound change in the decentralization paradigm, which basically aims to strengthen the local government as a self-government institution and thus to encounter the pro-people local governance by mobilizing revenue with the efforts of enhancing local resources. In spite of the fact that the local government in Asian Countries like Japan, China, Indonesia India, Nepal and Bangladesh has a long heritage. But it is still the weakened as well as neglected tier of the government in South Asian Countries both from the viewpoints of decentralization and financial self-sufficiency. Though the role of the local government institutions in the context of the viewpoints of decentralization efforts and development have been gradually increasing over the years in many developing countries, irrespective of the stage of economic growth and development. In some countries of the developing world, local resources and revenue mobilization are yet to perform adequate revenue raising capacity and capability due to lack of proper commitment towards decentralization of authority. ・・・