Bonanza for civic body and water board
- People clear arrears with old notes
Hyderabad: Cancellation of old currency notes of Rs 500 and Rs 1000 denomination has proved to be a blessing in disguise for Greater Hyderabad Municipal Corporation and Water and Sewerage Board. The demonetization has fetched huge income to the GHMC in the form of tax arrears as the Central/state government has allowed the civic body and the Water Board to accept the banned notes.
While the civic body collected a whopping Rs 21 crores on Friday, the Water Board got about Rs 9 crores through special counters opened for collecting tax arrears, it is learnt. It is likely that total taxes may cross Rs 50 crores mark by the midnight as people cleared their dues with old notes, thanks to the Centre for giving permission to the civic body when Municipal Administration Minister KT Rama Rao made an appeal during his Delhi trip.
Unable to getting their old currency notes exchanged, the people have found it easy to get rid of their old notes by paying taxes. The appeal made by GHMC Mayor B Rammohan and Commissioner B Janardhan Reddy have started yielding results in 24 circles. In a couple of days, more people are expected to pay taxes at Mee Seva centers, special counters and civic service centers as they remain open on Saturday and Sunday like banks. The minister asked the officials to work extra hours as the people were willing to pay taxes.
In a related development, Union Minister of State (independent charge) for Labour and Employment Bandaru Dattatreya called on Governor ESL Narasimhan on Friday and told him that the demonetization will not bring any loss to the Telangana government. His briefing followed Chief Minister K Chandrasekhar Rao’s reported comment that the real estate sector had collapsed (due to Modi’s decision) causing about Rs 2000 crore loss to the State. -NSS