Know conditions behind loan approval

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If the Delhi Government will be giving loans to municipal corporations, it will be doing so with certain conditions. According to the data, the Delhi Government has imposed conditions in implementing Municipal Valuation Committee before the release of a part of the loan to the corporations.

As per the rules and regulations, the Delhi Government is entitled to impose usual conditions and additional conditions when it gives a loan. The usual condition involves utilisation certificate and assessment of proper expenditure of the loan. Similarly, the additional conditions means that the Government is entitled to add additional demands like doing away with temporary employees which they think are not required or removing additional force of beldars.

The Municipal Valuation Committee, on the other hand, originated from MCD Act. The Committee is tasked with deciding the rate of the property tax and other things that can be included within the ambit of property tax.

Daily Pioneer
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