New Delhi Municipal Council (NDMC), on Wednesday, presented its budget for the financial year (FY) 2023-24 with focus on preparations for the G-20 Summit to be held next year in the National Capital.
NDMC chairman Amit Yadav presented the budget in the council meeting.
Briefing media persons about the budget, Yadav said the council has presented a positive budget without proposing any increase in property tax rates for the year 2023-24.
“Our focus is on infrastructure next year,” he said, adding there is an enhancement in the health and education sector in the budget.
He said two major hospitals under the NDMC were fully prepared to deal with any eventuality in the event of COVID-19 pandemic, which, he said was testified through a mock drill conducted by the Delhi Disaster Management Authority (DDMA).
Making mention of the initiatives taken by the NDMC for the G-20 Summit, the council chairman said, “NDMC budget includes many initiatives to make our city ready for the G-20 Summit. A park on G-20 with display of national animals on waste to wonder theme, beautification & lighting of its flyovers, total greening of landscape and blooming flowers are included.”
Delhi will also host a food festival with flavours from all the countries participating in the G-20 Summit, he said.
Yadav said the NDMC has presented a forward-looking budget with a surplus of Rs 224.98 crore in current financial year 2022-23 and Rs 583.29 crore for financial year 2023-24 against Rs 178.95 crore surplus projected in its BE 2022-23.
The NDMC chairman said the budget for FY 2023-24 shows a significant increase in receipts and expenditure at similar levels for the premier municipal organisation in Delhi.
In anticipation of an increase of 7.25 per cent in its receipts at Rs 4743 crore, the NDMC budget 23-24 is self-sustainable with a net surplus of Rs 583.29 crore.
Licence fees projections are at an all-time high of Rs 825 crore maintaining a continuous growth streak.
“NDMC does not propose any increase in property tax rates for the year 2023-24. However, tax revenue is projected at an all-time high of Rs 1,150.00 crore,” he said.