NMMC gets ` 75- crore LBT grant from state govt for three months

Hindustan Times ST (Mumbai) - HT Navi Mumbai Live - - NAVI MUMBAI - G Mo­hi­ud­din Jeddy ht­for­nav­i­mum­bai@hin­dus­tan­times.com

The state govern­ment sanc­tioned a grant of Rs75.53 crore a month to Navi Mum­bai Mu­nic­i­pal Cor­po­ra­tion (NMMC) in lieu of the dis­con­tin­u­a­tion of Lo­cal Body Tax ( LBT) for the three months end­ing March 31.

The civic body had de­manded the grant af­ter the state dis­con­tin­ued LBT, which was a ma­jor source of in­come for NMMC.

The civic body said its ex­cel­lent track record of col­lec­tion of taxes over the years has helped it get the high­est grant in the state. “Since NMMC’s tax col­lec­tion sys­tem has been ac­count­based from the be­gin­ning, LBT be­ing mod­i­fied ver­sion of cess, the civic body’s tax col­lec­tion was the high­est among all other mu­nic­i­pal cor­po­ra­tions in the state,” said Umesh Wagh, deputy mu­nic­i­pal com­mis­sioner (LBT),

He said, “De­spite LBT be­ing dis­con­tin­ued, the NMMC for five months paid at­ten­tion to col­lec­tion of ar­rears and other dues, en­sur­ing a dis­ci­plined fi­nan­cial sys­tem. This re­sulted in col­lec­tion of Rs100 crore in July, Rs80 crore in Au­gust, Rs68 crore in Septem­ber, Rs50 crore in Oc­to­ber and Rs70 crore in Novem­ber.”

“We are con­fi­dent of a col­lec­tion of over Rs800 crore in the cur- rent fi­nan­cial year,” said Wagh.

Mu­nic­i­pal com­mis­sioner Di­nesh Waghmare said, “The grant is a recog­ni­tion of our dis­ci­plined fi­nan­cial sytem in the cor­po­ra­tion. It is dis­ci­pline that has also earned us a high credit rat­ing of AA+ sta­ble from In­dia Rat­ing and Re­search.”

On Au­gust 1, 2015, the state dis­con­tin­ued LB T. While an­nounc­ing the grant for the next three months, the state took into ac­count all the de­tails and an­nounced a grant of Rs75.53 crore a month.

Since NMMC’s tax col­lec­tion sys­tem has been ac­count-based, LBT be­ing mod­i­fied ver­sion of cess, the civic body’s tax col­lec­tion was the high­est among all other mu­nic­i­pal cor­po­ra­tions in the state.

UMESH WAGH, deputy mu­nic­i­pal com­mis­sioner (LBT)

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