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Mumbai to Tax Garbage

Mumbai, India’s financial hub and the richest municipality of the nation, is exploring new ways to boost revenue as a slowing economy hurts earnings from real estate.This includes tax on garbage collection and additional levies on services such as issuing birth certificates.

The Municipal Corporation of Greater Mumbai, which covers half the area of the city of New York but houses 50% more people, sees revenue dropping 5% from its previous target to 238.5 billion rupees ($3.4 billion) in the year through March 31.

Mumbai — whose budget is larger as compared to several Indian states — bodes ill for India’s economic revival because local expenditure has a bigger impact than that by Prime Minister Narendra Modi’s administration. Every 1 rupee spent by states yields 1.07 rupees in extra output versus 0.4 for the federal government, according to a working paper published by the Reserve Bank of India.

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