NDMC presents 2023-24 budget with emphasis on G-20 Summit

NEW DELHI: The New Delhi Municipal Council (NDMC) introduced its budget for the financial year (FY) 2023-24, with an emphasis on preparation for the G-20 Summit to be held in New Delhi.

Amit Yadav, Chairman of NDMC, presented the budget in the council meeting. Later Yadav informed the media that the council hasn’t increased property tax rates for 2023-24. However, tax revenue is projected at an all-time high of ₹1,150.00 crore. Apart from that, the budget for health and education sector has been increased.

Yadav highlighted that two hospitals that fall under the jurisdiction of NDMC, are fully prepared to address any contingency in case of an outbreak of new variant of Covid-19, and the same has been testified during the mock drill conducted by the Delhi Disaster Management Authority (DDMA).

The council chairman also said, “NDMC budget includes many initiatives to make our city ready for the G-20 Summit. A park on G-20 with display of national animals on waste to wonder theme, beautification & lighting of its flyovers, total greening of landscape and blooming flowers are included.”

Yadav also said that the council presented a forward-looking budget with a surplus of ₹224.98 crore in the current financial year and ₹583.29 crore for the financial year 2023-24 against ₹178.95 crore surplus projected in its budget estimate for 2022-23. The budget for the upcoming fiscal year shows a significant increase in the receipt and expenditure of the council. While keeping in mind the 7.25 per cent increase in receipts at ₹4,743 crore, the NDMC budget is self-sustainable with a net surplus of ₹583.29 crore. License fee projections are at an all-time high of ₹825 crore, tracing the path of continuous growth.