<PAGE> PAGE 1
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008 B000001 A
008 C000001 801-7974
008 D010001 BOSTON
008 D020001 MS
008 D030001 02109
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011 B000001 8-5088
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011 C020001 MA
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012 B000001 84-401299
012 C010001 BOSTON
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013 A000001 COOPERS & LYBRAND
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<PAGE> PAGE 2
013 B030001 02109
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015 B000001 C
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015 C020001 MA
015 C030001 02109
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020 C000001 53
020 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000002 13-5674085
020 C000002 22
020 A000003 SCOTT BALDWIN
020 B000003 31-9581870
020 C000003 4
020 A000004 REYNOLDS KENDRICK STRATTON
020 C000004 2
020 A000005 DEAN WITTE REYNOLDS INC.
020 B000005 94-1671384
020 C000005 1
020 A000006 PAINE WEBBER, INC.
020 B000006 13-2638166
020 C000006 1
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022 A000001 WILLIAM E. SIMON & SONS, INC.
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022 C000001 315863
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022 B000002 13-2638166
022 C000002 159325
022 D000002 139126
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022 B000003 13-5674085
022 C000003 121682
022 D000003 134860
022 A000004 LEHMAN BROTHERS
022 B000004 13-2518466
022 C000004 93429
022 D000004 122601
022 A000005 GOLDMAN SACHS & CO.
022 B000005 13-5108880
022 C000005 55922
022 D000005 69815
022 A000006 SMITH, BARNEY, HARRIS, UPHAM & CO.
022 B000006 13-1912900
022 C000006 57114
<PAGE> PAGE 3
022 D000006 42749
022 A000007 GREENWICH PARTNES
022 B000007 13-3176013
022 C000007 31631
022 D000007 24161
022 A000008 FIRST BOSTON CO.
022 B000008 13-5659485
022 C000008 49370
022 D000008 15150
022 A000009 PRUDENTIAL SECURITIES INC.
022 B000009 22-2347336
022 C000009 17570
022 D000009 29143
022 A000010 E.A. MOSS CO., INC.
022 C000010 17792
022 D000010 16884
023 C000000 1058095
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024 000000 N
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 9
SIGNATURE GORDON H. SILVER
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM Putnam Municipal Income Class A AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAR-31-1995
<PERIOD-END> MAR-31-1995
<INVESTMENTS-AT-COST> 1,218,880,900
<INVESTMENTS-AT-VALUE> 1,223,533,136
<RECEIVABLES> 46,098,265
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,271,605,192
<PAYABLE-FOR-SECURITIES> 7,643,571
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,103,788
<TOTAL-LIABILITIES> 14,747,359
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,291,560,117
<SHARES-COMMON-STOCK> 94,746,287
<SHARES-COMMON-PRIOR> 97,636,167
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (454,966)
<ACCUMULATED-NET-GAINS> (37,725,222)
<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 1,256,857,833
<DIVIDEND-INCOME> 0
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<OTHER-INCOME> 0
<EXPENSES-NET> 14,065,854
<NET-INVESTMENT-INCOME> 74,642,060
<REALIZED-GAINS-CURRENT> (31,374,804)
<APPREC-INCREASE-CURRENT> 32,173,688
<NET-CHANGE-FROM-OPS> 75,440,944
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<NET-CHANGE-IN-ASSETS> (35,570,879
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM Putnam Municipal Income Class B AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAR-31-1995
<PERIOD-END> MAR-31-1995
<INVESTMENTS-AT-COST> 1,218,880,900
<INVESTMENTS-AT-VALUE> 1,223,533,136
<RECEIVABLES> 46,098,265
<ASSETS-OTHER> 1,973,791
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<PAYABLE-FOR-SECURITIES> 7,643,571
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<PAID-IN-CAPITAL-COMMON> 1,291,560,117
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<SHARES-COMMON-PRIOR> 42,292,343
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<ACCUMULATED-NET-GAINS> (37,725,222)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,477,904
<NET-ASSETS> 1,256,857,833
<DIVIDEND-INCOME> 0
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<NET-INVESTMENT-INCOME> 74,642,060
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<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> (956,199)
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 14,065,854
<AVERAGE-NET-ASSETS> 397,265,200
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<PER-SHARE-GAIN-APPREC> .01
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<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM Putnam Municipal Income Class M AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAR-31-1995
<PERIOD-END> MAR-31-1995
<INVESTMENTS-AT-COST> 1,218,880,900
<INVESTMENTS-AT-VALUE> 1,223,533,136
<RECEIVABLES> 46,098,265
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<PAID-IN-CAPITAL-COMMON> 1,291,560,117
<SHARES-COMMON-STOCK> 13,992
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (454,966)
<ACCUMULATED-NET-GAINS> (37,725,222)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,477,904
<NET-ASSETS> 1,256,857,833
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 88,707,914
<OTHER-INCOME> 0
<EXPENSES-NET> 14,065,854
<NET-INVESTMENT-INCOME> 74,642,060
<REALIZED-GAINS-CURRENT> (31,374,804)
<APPREC-INCREASE-CURRENT> 32,173,688
<NET-CHANGE-FROM-OPS> 75,440,944
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (11,827)
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<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 140,335
<NUMBER-OF-SHARES-REDEEMED> (1,623)
<SHARES-REINVESTED> 1,216
<NET-CHANGE-IN-ASSETS> 35,570,879
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (6,244,564)
<OVERDISTRIB-NII-PRIOR> (956,199)
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 14,065,854
<AVERAGE-NET-ASSETS> 649,864
<PER-SHARE-NAV-BEGIN> 8.21
<PER-SHARE-NII> .16
<PER-SHARE-GAIN-APPREC> .54
<PER-SHARE-DIVIDEND> 0
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<PER-SHARE-NAV-END> 8.75
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</TABLE>
