PUTNAM MUNICIPAL INCOME FUND
NSAR-A, EX-27, 2000-11-29
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
Putnam Municipal Income Fund
</LEGEND>
<SERIES>
   <NUMBER> 4
   <NAME> CLASS A

<S>                             <C>
<PERIOD-TYPE>                  SEMI
<FISCAL-YEAR-END>                          MAR-31-2000
<PERIOD-END>                               SEP-30-2000
<INVESTMENTS-AT-COST>                    1,098,264,913
<INVESTMENTS-AT-VALUE>                   1,097,711,224
<RECEIVABLES>                               29,169,352
<ASSETS-OTHER>                                 417,100
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                           1,127,297,676
<PAYABLE-FOR-SECURITIES>                     2,166,757
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    4,991,735
<TOTAL-LIABILITIES>                          7,158,492
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                 1,175,828,158
<SHARES-COMMON-STOCK>                       81,042,957
<SHARES-COMMON-PRIOR>                       83,075,923
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                       (926,484)
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                  (54,503,964)
<ACCUM-APPREC-OR-DEPREC>                     (258,526)
<NET-ASSETS>                             1,120,139,184
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                           37,246,679
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               6,411,497
<NET-INVESTMENT-INCOME>                     30,835,182
<REALIZED-GAINS-CURRENT>                   (1,070,136)
<APPREC-INCREASE-CURRENT>                    1,518,876
<NET-CHANGE-FROM-OPS>                       31,283,922
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                 (20,014,689)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      5,778,642
<NUMBER-OF-SHARES-REDEEMED>                (9,234,671)
<SHARES-REINVESTED>                          1,423,063
<NET-CHANGE-IN-ASSETS>                    (37,400,311)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                      (836,934)
<OVERDIST-NET-GAINS-PRIOR>                (53,433,828)
<GROSS-ADVISORY-FEES>                        3,322,400
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              6,584,743
<AVERAGE-NET-ASSETS>                       700,288,467
<PER-SHARE-NAV-BEGIN>                             8.61
<PER-SHARE-NII>                                    .24
<PER-SHARE-GAIN-APPREC>                            .01
<PER-SHARE-DIVIDEND>                             (.24)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               8.62
<EXPENSE-RATIO>                                    .47
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0


</TABLE>


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