BJP's farmer loan waiver and Sena's property tax proposal to hit BMC
Brihanmumbai Mahanagar Palika
ADVERTISEMENT
Even as it recovers from octroi losses of up to R7,000 crore annually as a fallout of GST's implementation, the BMC is staring at an estimated loss of R500 crore owing to the tax-sop resolution passed by the ruling Shiv Sena. The farm loan waiver granted by the BJP-led government is also adding to the worries of the administrative wing of the BMC, which is mulling ways to generate revenue.
Apart from Octroi, the BMC also generated a major chunk of its revenue from property taxes. But, the Sena recently passed a resolution abolishing the same for houses with less than 500 sqft area. It also proposed a 60 per cent waiver for houses between 500 and 600 sqft area. This move has not gone down well with the BMC administration because nearly 14.98 lakh houses in the city fall under the below 500 sqft area category.
A senior civic official said, "In order to waive off property tax, the Mumbai Municipal Corporation (MMC) Act would need to be amended. We are completely against this move, but as it was promised by the ruling party during the BMC elections, and since it was approved before the monsoon session, we are awaiting the government's decision. There could be losses of up to R500 crore."
Shiv Sena leader Yashwant Jadhav, said, "We are hopeful that the government will amend the MMC Act."
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
