MCD raised ₹3,795 crore in financial year 2023-24

NEW DELHI: The New Delhi Municipal Council (NDMC) announced on Wednesday that it has completed its target for the financial year 2023-24. The civic body has collected over ₹3,795 crore.

The civic body informed, “With the sustained efforts made by team NDMC, the revenue collection has not only been met but exceeded targets for FY 2023-24. NDMC has collected the record revenue of ₹3795.30 crore from the receipt sources of property tax, licence fee, commercial revenue (water and electricity) and parking fee.”

NDMC stated that it raised the property tax collection without raising the tax rate. The statement issued by NDMC said, “First time in the history of the civic body, the property tax revenue collection crossed the ₹1,000 crore mark. NDMC has collected ₹1, 025.59 crore in property tax against the target of ₹1,150 crore.” Of the total revenue collection, ₹21 crore has been raised from parking fees, surpassing its ₹20 crore target.

Speaking about the revenue, the Chairmen of NDMC, Amit Yadav, said that the reason for the revenue increase is the dedication and team spirit of the ULB officials. He hoped that the same spirit would be maintained, helping NDMC become a role model in India to transform it into an efficient, effective, and livable urban area.