Civic bodies need major reforms to enhance revenue sources: RBI report

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Civic bodies need major reforms to enhance revenue sources: RBI report - Business Standard

Quick Summary:

The consolidated budgets of the municipalities indicate a surplus in the revenue account.

The state finance commissions (SFCs), which recommend the magnitude and frequency of the grants and transfers from the state governments, must be formed regularly.

The report said the property tax revenues of MCs would benefit from steps like the adoption of Geographic Information System (GIS) mapping, digital payment systems, dynamic valuation systems, and better monitoring to plug leakages.