The Pune Municipal Corporation (PMC) has unveiled its budget for 2025-26, projecting a notable revenue shortfall due to the downturn in the real estate market.
Real EstatePuneBudgetRevenueMunicipal CorporationReal Estate PuneMar 05, 2025
The main reason for the revenue shortfall in the PMC budget is the decline in the real estate sector, which has led to reduced property tax collections and a slowdown in construction activities.
The PMC is planning to diversify its revenue streams by attracting investment in other economic sectors, such as technology and manufacturing, and by developing public-private partnerships to fund infrastructure projects.
The real estate slump has led to reduced economic activity, job losses, and decreased profits for property developers and construction companies, affecting the broader economy of Pune.
The PMC is focusing on improving the efficiency of its tax collection mechanisms and ensuring that all due revenues are realized, which includes enhancing the collection process and reducing tax evasion.
Public-private partnerships (PPPs) will help the PMC by leveraging private sector expertise and investment to fund infrastructure projects, reducing the financial burden on the municipal government and accelerating development.
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