Business Daily from THE HINDU group of publications
Monday, Jun 19, 2006

Cross Currency

Group Sites

Industry & Economy - Taxation
States - Karnataka

BMP may mop up Rs 800 cr from taxes

Our Bureau

`Concerted efforts needed to tackle infrastructure problem'

Bangalore , June 18

The Bangalore Mahanagara Palike could mop up about Rs 800 crore from taxes to reduce its dependence on borrowing, which is one of the reasons for its inability to meet growing civic infrastructure demands. BMP's property tax collection, which is a key component of its revenues, was only Rs 250 crore last year.

Under-valuation and evasion of property tax had forced BMP to depend on borrowings, while its internal revenue generation was only Rs 500 crore against an estimated annual budget of about Rs 1,000 core.

Mr K. Jairaj, Commissioner of BMP, at a roundtable on Bangalore's Infrastructure, organised by the Bangalore Chamber of Industry & Commerce, said unless citizens complied with their statutory obligations, BMP resource mobilisation capability cannot improve.

Brand Bangalore

Top Government officials representing the key departments of Karnataka State Governmentvowed to decongest Bangalore, improve quality of life and maintain the brand `Bangalore'. The officials said that they would see various key projects implemented within the next 12 months.

The BCIC President, Mr Anant R. Koppar said, "The State is losing its pre-eminent position in job creation to neighbouring States due to lack of basic infrastructure. Concerted efforts have to be taken to solve this problem."

The Bangalore Development Authority Commissioner, Mr M.K. Shankaralinge Gowda, said, "We are also coming out with a master plan for Bangalore by September 2006, which will be valid till 2015."

More Stories on : Taxation | Karnataka

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
New Govt makes its policy clear

Assistance hiked for mid-day meal
HC asks TNPCB to give ruling on consent and renewal fees
Govt, India Inc delegation heads to US
States told to enact laws to promote petro hubs
War of words between JD(S) and promoter of expressway project continues
Ambitious project
CII moots viability funding for social infrastructure
Pranab wants infrastructure snags addressed
Shipping cos set course for rigs
PM to lay stone for MRPL complex
Urban local bodies owe dues of Rs 34.55 cr to Mescom
BMP may mop up Rs 800 cr from taxes
`SMBs poised to spend more on IT'
`CIL must focus on supplying quality coal'
DLF IPO to hit the market by July 15
On the block
Call to strengthen manufacturing sector
TN identifies 21 clusters for handloom development
Progress at Gangavaram
Tapioca project from BoI
NAC bullish on HR opportunities
AIBEA plans protest action from July
New hybrid scores over traditional basmati
Carrying iron ore to Pak

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line