The revenue of Nashik Municipal Corporation (NMC) through collection of various taxes has increased by 25% between April and November of the current financial year (2019-20) in comparison with the corresponding period last year. The civic body collecting revenue through property tax, water tax, GST grant, 1% Local Body Cess and various taxes by the town planning department has collected Rs 1,032 crore till November. During the same period last year, the collection figure stood at Rs 826 crore. A civic official said that the rise is because of the hike in revenue collection through various taxes from the town planning department. “Substantial rise in revenue through the town planning department has led to rise in NMC’s revenue. The revenue through town planning department between April and November last year was Rs 85 crore only. But we have collected Rs 225 crore during the same period of the current financial year,” the official said.
“We have collected around Rs 140 crore more in the first eight months of the current financial year and we are expecting Rs 75 crore more through various taxes of town planning department in the remaining four months of the current financial year,” he added. The town planning department of the civic body earns revenue through various taxes like building permission fees, layout fees, hardship premiums, development charges and fees through unauthorized constructions like closure of balcony, plinth settlement, among others. “The NMC has increased the pace of the process to regularize cupboard cases against hardship premium. Moreover, the authority has also started giving quick approvals to building plan proposals. This has overall added to revenue collection of the exchequer of the NMC,” the official said.
Moreover, the NMC gets GST grant on a monthly basis from the government. The civic body has received Rs 46 crore more during the first nine months. The NMC has received GST grant of Rs 629.28 crore during the April-November period of the current financial year as against Rs 582.64 crore during the same corresponding period last year. The NMC’s revenue through property and water tax has also increased due to focus of the civic administration in meeting the set targets. The NMC has also set a formula while giving approval to various development works. The financial discipline like necessity of the work and availability of funds has helped the NMC save unwanted expenses. This is the reason, the administrative cost of the NMC, which was around 37% two years back, has reduced to below 30% this year.
Read More at: https://timesofindia.indiatimes.com/city/nashik/nmcs-revenue-between-april-nov-up-25/articleshow/72929579.cms