Significant Surge in Revenue Reflects Effective Tax Collection Strategies and Citizen Participation
Pune News: The Pune Municipal Corporation (PMC) has achieved a remarkable milestone in the fiscal year 2023-24, with its treasury swelling to an unprecedented Rs 7,463 crores, surpassing initial targets set for various revenue streams. This significant surge in funds, derived from taxes and duties such as income tax, construction charges, water taxes, and GST, underscores the municipality’s robust financial performance.
As the fiscal year draws to a close, expectations are high for further growth in revenue, highlighting the effectiveness of the PMC’s strategies in bolstering its financial resources.
Citizen participation has played a pivotal role in this achievement, with online tax payments witnessing diligent contributions from residents, thereby augmenting revenue across different departments.
Initially targeting Rs 2,400 crores from income tax alone in the budget for 2023-24, the PMC has exceeded expectations, with the treasury now boasting a staggering Rs 7,463 crores as of March 28, 2024.
Despite interruptions caused by a government holiday, income tax collections on Thursday amounted to an impressive Rs 1,868 crores and 44 lakhs, further solidifying the PMC’s financial position.
