The main highlight of the corporations budget estimates for 2005-06, presented in the MCD house on Friday, is that it proposes no new taxes.
No new tax will be imposed on the citizens of Delhi. The commissioner (Rakesh Mehta) in his budget proposals has proposed to levy tax on profession, trade, callings and business.
All citizens of Delhi would have been directly or indirectly affected by this new tax, standing committee chairman Mukesh Goyal said presenting the budget.
He said the Municipal Corporation of Delhi will instead increase its income by augmenting its existing financial resources.
The standing committee had earlier rejected the proposal for levying professional tax.
In his budget proposals, Mehta had said the tax on trades, professions, callings and employment would yield approximately Rs 50 crore during the year.