Holding Tax Drives BMC's Remarkable Revenue Growth
Key Points
Revenue milestone unlocks new opportunities for Bhubaneswar's urban growth and civic improvement.
Bhubaneswar, Apr 2: The Bhubaneswar Municipal Corporation (BMC) has achieved a significant milestone in revenue collection for the fiscal year ending March 31, 2025.
With a target of ₹250 crore in revenue, BMC has successfully collected ₹200 crore, marking a substantial increase from the previous year's performance.
Notably, holding tax collection played a pivotal role, with ₹101 crore amassed until March 31 compared to ₹70 crore last year. BMC set a higher target of ₹130 crore for holding tax this year, demonstrating their commitment to improved governance and fiscal management.
In addition to holding tax, revenue streams included trade licenses, advertisements, rent, parking fees, user fees, and fixed deposit interest, contributing to the overall collection.
Despite these achievements, challenges persist. Several government organizations owe substantial amounts in holding taxes, prompting discussions between the Finance Secretary and BMC Commissioner. IDCO owes ₹57 crore in holding taxes. The corporation has also issued notices to multiple defaulters, reinforcing their effort to recover dues.
Revenue generated by BMC supports critical infrastructure and development initiatives, including drainage systems, sanitation, ABC programs, and other civic projects. Officials emphasised the moral responsibility of timely tax payments to ensure sustainable city development.
With 30 tax collectors covering 67 wards, BMC aims to enhance collection efficiency while promoting transparency in the process. As Bhubaneswar continues to grow, holding tax remains a cornerstone in fostering urban development and improving liveability standards.
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