Uncovering Financial Challenges: Varanasi Municipal Corporation's Battle with Outstanding Dues
In the heart of Varanasi, the largest debtor to the Varanasi Nagar Nigam is BHU, with a staggering outstanding amount of 52 crore INR. This, however, is just the tip of the iceberg, as prominent entities like Roadways, State Bank of India, and Life Insurance Corporation are also grappling with substantial dues, prompting notices from the Nagar Nigam. With a whopping 2.20 lakh building owners in the municipal corporation, a city-wide campaign is in the works to address overdue payments and take legal action.
Nagar Nigam is gearing up for a proactive stance, initiating a drive against major debtors, contemplating sealing properties, and confiscating assets. The total outstanding amount from homeowners alone stands at 58 crore INR, with Roadways contributing an additional 60 lakh INR. Some departments have committed to settling their dues with the Nagar Nigam by March, easing the financial burden on the municipal corporation.
BHU itself is divided into two sections – commercial and residential. The determination of taxes for these segments remains a contentious issue, further complicated by a legal case related to outstanding dues currently under consideration. Hopes are high for a swift resolution in this matter.
Despite the challenges, the Nagar Nigam has managed to recover 48 crore INR thus far, showcasing a commendable effort in meeting its financial goals. With an ambitious target of 84 crore INR in property tax collections for the fiscal year, the municipal corporation aims to recover an additional 36 crore INR in the coming two months.
As the saga unfolds, Varanasi's civic body navigates the complex terrain of financial management, striving to strike a balance between revenue collection and legal proceedings, all in an effort to sustain the city's development and well-being.
