Demonetization side-effects: Ludhiana MC rakes in moolah

LUDHIANA: The Union government's decision to allow scrapped notes of Rs 500 and Rs 1,000 to be used to pay property tax or sewerage and electricity bills has set the cash registers ringing for the municipal corporation. Residents are thronging MC offices to clear their dues with the banned currency.
According to the data, the amount collected under these heads has almost doubled in the last one week as compared to the previous week.The authorities have collected more than Rs 31lakh as property tax after the Centre's notification allowed the MC to accept old currency notes till November 24. A week prior to this notification, the authorities were able to collect only around Rs 16 lakh under the same head.
Besides property tax, the residents are also queuing up to pay their long pending watersewer bills.
The officials said around Rs 15 lakh was deposited with the MC on Thursday in just Zo ne D, whereas the total collection from November 11 to November 17 stood at Rs 29 lakh in this zone. There are four zones of MC. Interestingly , residents are even requesting the MC to accept bills in advance, which is not feasible.
MC officials maintained that apart from demonetization, the factor which prompted residents to pay bills is the exemption given to residents in depositing due amounts sans penalty and interest.
Sources said prior to receiving the formal notification on November 11 mentioning that the scrapped notes would be accepted for paying the arrears and property tax by the MC, only about Rs 26,000 was deposited under water sewerage charges.
But soon after the notification the amount touched Rs 5.25 lakh between12 pm to 3 pm.