NEW DELHI: The New Delhi Municipal Council (NDMC) on Wednesday said it has collected a record revenue of Rs 3,795.30 crore for the financial year (FY) 2023-24, an increase of 15.11 per cent from the previous financial year.
The urban body, in a statement, said it has exceeded the revenue collection target. However, it didn’t mention what was its target for the financial year.
The Council’s sources of revenue include property tax, licence fees, commercial revenue (water and electricity) and parking fees. The civic body collected Rs 1,025.59 crore in property taxes, which fell short of the target of Rs 1,150 crore for the year.
Despite this, the figure stood 10.13% higher than the 931.10 crore collected in the previous financial year and the first time in NDMC’s history the property tax collection has crossed the Rs 1,000 crore mark.
The NDMC is also responsible for the supply of electricity, as well as water, to its residents and service users in its area. During FY2023-24, the NDMC has collected Rs 1811.71 crore from this supply against the target of Rs 1,659.95 crore. NDMC had collected commercial revenue of Rs 1,503 crore in FY2021-22 and Rs 1,722 crore in FY2022-23.
In addition, the Council’s estate department collected Rs 937 crore in licence fees against the target of Rs 825 crore. The figures were Rs 628.68 crore in FY2022-23 and Rs 527.74 crore in FY2021-22. At the same time, revenue from parking fees stood at Rs 21 crore against the target of Rs 20 crore.
NDMC Chairman Amit Yadav said, “The spirit of progress will be maintained in future with NDMC set to become the role model in the country transforming it into an efficient, effective and liveable urban area.”
