The Greater Chennai Corporation (GCC) is all set to rev up their work on stalled civic projects in the city. These projects came to a halt as there was a cash crunch and it came as an after-effect of demonetisation. The Corporation collected a record amount of tax through various camps and that has refilled the civic body’s cash bank and therefore they can afford to resume all the stalled works.

 

GCC had set up 300 tax collection centres and through these counters they have managed to collect ₹80 crore since November 11, 2016, which is 200 percent more than their monthly collection. This post-currency ban drive helped them to refill their cash bank so that the paused projects can resume with immediate effect.

 

Previously, the civic body was not collecting taxes in cash. But the recent currency ban had forced them to collect taxes in cash. Thus GCC has been accepting the old ₹500 and ₹1000 notes through all zonal and ward offices, Ripon Building (HQ), Tamil Nadu Arasu Cable TV counters and designated branches of 11 different banks including Indian Overseas, HDFC and Karur Vysya Bank.