Thanks to Prime Minister Narendra Modi’s `demonetization’ strike, the Greater Hyderabad Municipal Corporation (GHMC) could come out from its financial crisis by collecting highest amount of property tax in the entire country. As due to GHMC polls earlier this year makes the civic body to dispose most of its fiscal resources towards civic amenities and failed to receive expected support from the state government, it is finding it difficult even to meet daily requirements.

Though demonetization makes Telangana government fear of losing its revenues to the extent of Rs 3,250 crore and forced the chief minster K Chandrasekhara Rao urgently rushes to national capital seeking liberal assistance from the Prime Minister. However, GHMC tops the list of 22 municipal corporations across the country in property tax collection.

According to the list released by the Union Ministry of Urban Development, the GHMC has collected Rs 188 crore in November. GHMC which collected only Rs 8 crore in November last year has collected Rs 188 crore during till Saturday.

The Centre’s decision to accept the old Rs 500 and Rs 1,000 currency notes has enhanced the property tax collection across the country by at least 200 per cent. According to a GHMC official they expects that its collection will go upto Rs 250 crore in the next four days.