Most citizens assume that because they pay direct and indirect taxes of different kinds like income tax and GST, their local municipality would be rich and have sufficient resources to keep the local areas smoothly functioning! And importantly, that to spend enough, governments, including the local government and municipalities, must have sufficient revenues, is not spoken of openly in the daily citizenry conversations.
In its last released State Finances 2021-22 report the Reserve Bank of India (RBI) noted that the urban local bodies and municipal corporations have “come under severe strain, forcing them to cut down expenditures and mobilise funding from various sources”.
The report pushes across the observation that the diversion of municipal corporation funds may have severe consequences for the financial sustainability of cities in the short to medium term. This has impacted their ability to provide services to local communities, as municipalities and gram panchayats have spent on Covid fighting measures. The report also concludes that the local governments suffered from insufficient budgets, overreliance on funds from upper tiers of government, lack of access to new sources of revenue and limited autonomy.
Administration – a reckoner
The administration in India operates at three levels, the central government of India, the state governments, and the local municipal bodies. The state and central governments raise funds for their developmental works through direct and indirect taxes.
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Denne historien er fra June 04, 2022-utgaven av Businessworld.
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MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.