UP Government Grants Tax Exemption to DMRC, NCRTC
RAILWAYS & METRO RAIL

UP Government Grants Tax Exemption to DMRC, NCRTC

The Uttar Pradesh government takes a significant step by granting tax exemptions to the Delhi Metro Rail Corporation (DMRC) and the National Capital Region Transport Corporation (NCRTC). This strategic move not only signifies support for crucial infrastructure projects but also aims to encourage the seamless development of urban transportation in the state.

By exempting DMRC and NCRTC from municipal taxes, the government underscores the importance of facilitating large-scale public transportation initiatives. This financial relief is expected to contribute to the effective implementation of metro and rapid rail projects, promoting connectivity and easing commuting challenges in the National Capital Region (NCR).

The decision aligns with the broader vision of creating modern and efficient transportation systems that cater to the growing needs of urban populations. Exempting these key agencies from municipal taxes reflects a recognition of their pivotal role in enhancing regional connectivity and promoting sustainable modes of transportation.

As DMRC and NCRTC play vital roles in transforming the transportation landscape of the NCR, the tax exemption is anticipated to positively impact the financial viability and execution of ongoing and upcoming projects. The Uttar Pradesh government's proactive measure demonstrates a commitment to fostering infrastructural growth and ensuring that critical projects contribute to the overall development of the region.

The Uttar Pradesh government takes a significant step by granting tax exemptions to the Delhi Metro Rail Corporation (DMRC) and the National Capital Region Transport Corporation (NCRTC). This strategic move not only signifies support for crucial infrastructure projects but also aims to encourage the seamless development of urban transportation in the state. By exempting DMRC and NCRTC from municipal taxes, the government underscores the importance of facilitating large-scale public transportation initiatives. This financial relief is expected to contribute to the effective implementation of metro and rapid rail projects, promoting connectivity and easing commuting challenges in the National Capital Region (NCR). The decision aligns with the broader vision of creating modern and efficient transportation systems that cater to the growing needs of urban populations. Exempting these key agencies from municipal taxes reflects a recognition of their pivotal role in enhancing regional connectivity and promoting sustainable modes of transportation. As DMRC and NCRTC play vital roles in transforming the transportation landscape of the NCR, the tax exemption is anticipated to positively impact the financial viability and execution of ongoing and upcoming projects. The Uttar Pradesh government's proactive measure demonstrates a commitment to fostering infrastructural growth and ensuring that critical projects contribute to the overall development of the region.

Next Story
Real Estate

AI makes the project workflow efficient

With a heritage spanning seven decades and footprint across seven countries, the BCD Group with expertise in construction, engineering, funding and consultancy is committed to building a better, more sustainable world for future generations. Vivek Joshi, Chief Strategy Officer, BCD Group, discusses the company’s projects, barriers to the usage of green steel and green cement, the role of software in project monitoring, etc, in conversation with R SRINIVASAN. Excerpts:What is the difference in projects in Tier 2-3 cities and in Mumbai?The major differences are:Market dynam..

Next Story
Technology

AI is revolutionising human capital strategy optimisation

The HR professional's passion for her job shines through when she says, "Sometimes you choose your journey and it becomes your passion and that’s how I started my HR journey. So far it has been interesting, learning through diversified cultures and industries. Every organisation and role has made me learn more about myself and the people we work with. Socomec has its own unique value driven culture and we are all set to evolve to take up a larger market share. So it is enthralling for me to drive the people and culture vision for a Greater India."What are the current best practices in induct..

Next Story
Infrastructure Transport

The Delhi-Dehradun Motorway will reduce commute time by half

The Delhi-Dehradun expressway's fourth segment, which would improve connectivity, is expected to open by May 2025. Saharanpur will be used in this project to connect two roads. Instead of five hours, a two-hour journey time is what is expected. This motorway will save fuel, lessen traffic, enhance connectivity between the two cities, and save time. It is projected that the project will cost Rs. 130 billion. On the motorway, light cars are permitted to go up to 100 kmph. After NH44, the longest highway spanning from north to south, this will be the second motorway, including a wildlife protec..

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 81086 03000

Join us Telegram