New Delhi: New Delhi Municipal Council (NDMC) declared its provisional results for the financial year 2021-22 with a net surplus of Rs 534.71 crore.
NDMC has managed to maintain surplus in the past few years, dubbing itself as the "financially well governed municipal organisation", NDMC stated that the results show increased receipts on both revenue and capital account. NDMC reported that the total receipts are Rs 4,019.08 crore, 5.37 per cent more than the revised estimates for the year.
The revenue receipts were reported at Rs 3,494.21 crore. And the capital receipts were reported as Rs 524.87 crore. NDMC explained that the major contributions were made from property tax collections, the total collection for FY 2020-21 was Rs 942.32 crore.
NDMC officials explained that NDMC managed to do this despite not increasing any property tax rates in the last five years and because it focused on drives that helped in the collection of past arrears. They also launched a new portal for added tax payer convenience.
"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. Some important initiatives like separating DISCOM (electricity distribution) budget, innovative IT initiatives like blockchain and paperless working as also facilitating contractors to submit paperless bills are strengthening the organisation and resulting into improved performance," the New Delhi Municipal Council said in a statement.