05 , April , 2022
The New Delhi Municipal Council (NDMC) has transcended its revenue targets with a net surplus of Rs 534.71 crores in the financial year 2021-22. As per a claim by the Municipal council, it has achieved the highest ever collection of property tax and said it has maintained a continuous streak for the last few years as a financially well governed municipal organisation. The provisional results for the financial year 2021-22 were declared on 1st April.
The results show increased receipts on both revenue and capital account, reads an official statement. The total receipts are 5.37 % more than the revised estimates for the year and amounts to Rs 4019.08 Crores.
As per an official statement from the NDMC officials, it was informed that the major contribution has come from the property tax collections which stand at the highest ever figure of Rs 942.32 crore, 36.41 per cent more than the previous year's collection and 47.6 per cent more than the collections in 2018-19.
“The collections show a significant growth on both revenue and capital accounts. The revenue receipts at Rs 3,494.21 crore are 4.73 per cent more than its revised estimates for the year and 11.76 per cent more than the actuals of the previous year. The capital receipts at Rs. 524.87 crore are also 9.84 per cent more than the revised estimates,” the statement read.
"These results have been achieved in an otherwise less encouraging economic scenario in the last two years affected by COVID-19. NDMC had not increased the tax rates as also extended various reliefs and time extensions to their citizens during Covid times," the statement said.
(WITH INPUTS TAKEN FROM PTI)
