NDMC declares over Rs 80 crore surplus revenue for FY 2014-'15

NEW DELHI: The New Delhi Municipal Council (NDMC) has exceeded its revenue target for the 2014-15 fiscal year by over Rs 80 crore.

Four major components -- property tax, licence fee, electricity and water charges -- along with the interest on investments, contributed about 92 per cent of the total revenue receipts of the civic body.

"Against a target of Rs 2,450 crore in Revised Estimates for 2014-15 for these four major components, the actual receipts as on March 31, 2015, stand at Rs 2,533 crore, resulting in additional collection of Rs 83 crore," NDMC spokesperson Jagjivan Bakshi said.

The maximum revenue generated was by way of electricity and water charges as also the licence fee, which earned NDMC a surplus amount of Rs 41 crore and Rs 32 crore, respectively.

"The excess revenue collection is more significant considering the fact that there was shortfall to the tune of Rs 80.29 crore for Financial Year 2013-14 for these major components," said Bakshi.