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Demonetisation brings windfall for GHMC
Demonetization may have rendered Rs 1,000 and Rs 500 notes as hot potato for legions wanting to get rid of them, but for the cash-strapped Greater Hyderabad Municipal Corporation a late night announcement on Thursday that the same currency could be used to pay property tax arrears up to midnight on Saturday yielded a whopping Rs 47 crore in one shot.
Hyderabad: Demonetization may have rendered Rs 1,000 and Rs 500 notes as hot potato for legions wanting to get rid of them, but for the cash-strapped Greater Hyderabad Municipal Corporation a late night announcement on Thursday that the same currency could be used to pay property tax arrears up to midnight on Saturday yielded a whopping Rs 47 crore in one shot.
After the corporation's announcement that it would accept the demonetized currency, GHMC Commissioner B Janardhan Reddy instructed officials to make arrangements at citizen service centres (CSCs) in each of GHMC's circle offices to facilitate payment of the dues by denizens until midnight on Saturday.
That done, CSCs in west zone topped the property tax collection list, netting about Rs 14 crore. It was followed by central zone --Rs 12 crore, east zone --Rs 10 crore, north zone -Rs 7 crore and south zone -- 4 crore.
Overwhelmed at the response, a senior GHMC official told The Hans India that demonetization had turned out to be a good fortune for the corporation, which had mopped up Rs 47 crore in property tax arrears in just 24 hours.
Until a few days back, the civic body was at a loss to find finances to even pay salaries for December.The windfall on Friday would help the civic body pay salaries to its employees for December month, the official said.
Besides, the corporation has instructed ground-level staff to collect another Rs 50 crore in 20 days to ensure payment of their salaries for the month of December.
However, the official conceded that the corporation would still run out of money to pay salaries for the month of January. Left with no alternative, the corporation proposes to once again lure dodgers and defaulters by announcing a Bumper Prize scheme to collect at least Rs 50 crore during the next month.
