NASHIK: Nashik Municipal Corporation’s (NMC) revenue through various taxes declined by 16% in the April-Dec period of the current financial year 2024-25.
The civic body has collected around Rs 1,600 crore revenue through various taxes in the first nine months, against its projection of Rs 1,906 crore.
Of this Rs1,600, Rs 1,040 crore includes GST grant from the state, Rs 202 crore property tax, Rs 150 crore through various taxes of the town planning department, Rs 25 crore water tax, Rs 15 crore grant under 1% local body cess, and remaining revenue from other taxes and grants.
NMC had projected a total revenue generation of Rs 2,542 crore through various taxes for the current financial year 2024-25. “But we are still short by 16% in revenue collection as per the projection so far,” said NMC officials. NMC gets revenue through various taxes and govt grants like GST grant, property tax, water tax, and various taxes through the town planning department of the NMC etc.
NMC planned to develop its own eight properties on a build, operate and transfer (BOT) basis. “We aimed to generate Rs 150 crore revenue through it, but could not work out the proposed BOT projects,” said NMC officials.
Moreover, the NMC projected Rs 10 crore revenue through leasing out its properties to telecom firms to set up mobile towers and also by operating pay and park in various spaces in the city. This plan, however, failed.
“We set the water tax collection target of Rs 75 crore for the current financial year, but we could collect only Rs 24 crore in the April-Dec period. This is also the area where we failed to collect the property tax,” added NMC officials.
Source Homevior.in
