🔆 Local Self Government – Key Facts ✅ The total revenue of all ULBs in India is only 1% of GDP, low compared to Brazil (7%) & South Africa (6%) ✅ PRI funds composition – Central Govt Grants (80%), State Govt Grants (15%), Own revenue (5%) ✅ Own revenues make up just ~ 5% PRI funds (Non-tax revenue 3.3% and Tax revenue 1.1%), low compared to Brazil (40%) etc. ✅ The share of property tax in India is only 0.14% of GDP as against 2% in OECD countries ✅ Property tax constitutes more than 16% of revenue receipts of municipal corporations, and more than 60% of their own tax revenue ✅ Municipal Corporation revenue receipts were just 0.6% of GDP in 2023-24, whereas those of Central Govt and State Govts was 9.2% and 14.6% of GDP respectively ✅ The revenue receipts of Municipal Corporations exhibit concentration, with the top 10 MCs accounting for over 58% of total municipal revenue receipts ✅ About 23% of total municipal revenue remains unspent, indicating a surplus in the municipal system that is not being effectively utilised. #gs2 #gs4 #ethics #essay #governance #mains #mains