Nagpur: The cash-starved Nagpur Municipal Corporation (NMC) could heave a sigh of relief as its financial position is getting on the right track. Stung by Covid-19 outbreak, the financial condition of NMC had gone worse. But in a good news, the local body has received a total of 899 crore including Rs 600 crore as GST from Central Government and Rs 299 crore as other government grants. This fact was shared by Chairman of the Standing Committee Vijay Zalke.
Zalke further said that the NMC Budget will be presented this month. After passing the Budget, the stalled development works will be taken up and completed.
The Property Tax and other taxes are the sources of revenue for the NMC. Other sources include GST from the Central Government and various grants from The State Government.
The lockdown enforced due to the coronavirus outbreak had stalled all works. Revenue of NMC was hit hard. Even the GST and government grants were not received. The civic body had no funds even for paying salaries of its employees. But following unlocking, the economic activities started to gain momentum. Recovery from local taxes also started. The Rs 600 crore GST the local body received is for the period from April. The government grant of Rs 299 crore is for various heads. The financial position of NMC is improving slowly and steadily. All the development works were stalled during the past seven months.
