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| NMC eyes 51.90% growth in FY 2010-11 |
| Tushar Pawar / Mumbai/ Nashik Jun 08, 2010, 00:55 IST |
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The revenue of Nashik Municipal Corporation (NMC) through various taxes has increased by 14.66 per cent during FY 2009-10, as compared to that of previous year. NMC administration has set the revenue recovery target of Rs. 801.43 crore for the current FY 2010-11.
NMC earns revenue through various taxes- octroi, Development tax, water cess, property and other taxes. NMC earns 75 per cent of total revenue from octroi and rest of the revenue (30 per cent) through other taxes.
In the FY 2009-10, NMC’s revenue has increased by Rs. 70.58 crore as compared to that of last year (2008-09). In the FY 2009-10, NMC earned revenue amounting to Rs. 551.71 crore. Out of which, the revenue amounting to Rs. 400 crore was from octroi, Rs. 99.81 crore from property & other taxes, Rs. 13.50 crore from Development tax and Rs. 38 crore from water cess, sources from NMC told Business Standard.
In 2008-09, NMC had earned revenue amounting to Rs. 481.13 crore. Out of which, the revenue amounting to Rs. 370.84 crore was from octroi, Rs. 69.39 crore from property & other taxes, Rs. 11.78 crore from Development tax and Rs. 29.12 crore from water cess, sources from NMC said.
NMC has set the revenue recovery target of Rs. 801.43 crore for the current FY 2010-11. Out of Rs. 801.43 crore, NMC expects revenue of Rs. 500 crore through octroi, Rs. 186.43 crore through property & other taxes, Rs. 35 crore through Development Tax and Rs. 80 crore through water cess.
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