Pune Municipal Corporation Treasury Grows to Rs 7,463 Crores, Surpassing Targets
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In the financial year 2023-24, the Pune Municipal Corporation has seen a significant surge in its treasury, accumulating a staggering Rs 7,463 crores from various taxes and duties, including income tax, construction charges, water taxes, and GST from central and state governments.
With just two days remaining in the fiscal year, there’s anticipation for further growth in revenue for the Pune Municipal Corporation.
Efforts to bolster revenue streams across different departments have been emphasized, leading to some exceeding their targets while others have reached them. Citizens have been diligently paying taxes online, contributing to the increase in revenue for respective departments.
In the budget for the fiscal year 2023-24, the Municipal Corporation had aimed for Rs 2,400 crores from income tax alone. However, as of March 28, the treasury boasts a whopping Rs 7,463 crores due to various tax collections.
Despite a government holiday interrupting transactions for three consecutive days, income tax collections on Thursday amounted to Rs 1,868 crores and 44 lakhs.
Details from departments showcase remarkable growth as well:
- The Construction Department has seen approvals totalling Rs 2,200 crores and 89 lakhs.
- Approved construction cases amount to Rs 2,191 crores and 75 lakhs in the fiscal year 2022-23.
- GST and LBT collections stand at Rs 2,753 crores.
The Municipal Corporation anticipates further financial growth in the coming years, bolstered by efficient tax collection systems and strategic planning.
