APMC revenue rebounds after years of decline

CH NEWS

Chikkaballapur

After facing financial struggles due to policy changes, the Agricultural Produce Market Committee (APMC) is now witnessing a positive turnaround in revenue collection.

The APMC had suffered revenue losses in previous years due to the state government’s decision to reduce market fees and amendments to the Central APMC Act. However, with the new amendments yet to be implemented and trade conditions improving, the APMC is experiencing a significant financial recovery.

For the fiscal year 2024-25, the government set a revenue collection target of Rs 1.15 crore. Surpassing expectations, the APMC has already collected Rs 1.26 crore. Over the past five years, there has been a noticeable gap between projected and actual revenue, with previous collections struggling to meet targets. However, officials now express confidence in sustaining this positive trend.

In earlier years, the market generated up to Rs 1.5 crore annually. However, revenue later dropped to around Rs 68-70 lakh, impacting essential services for laborers and farmers. These funds were used to develop infrastructure, build resting areas, and maintain roads within the market. The revenue shortfall made it difficult to continue these initiatives.

The COVID-19 lockdown further worsened the situation, as the government halted fee collection for four months, disrupting market operations. With trading activity at a standstill, fee collections dropped, further straining financial resources.

Despite the challenges, the recent increase in revenue has raised hopes for APMC’s future. Officials emphasize the need for strategic financial planning to ensure that the funds are effectively utilized for market expansion and improving facilities for traders and farmers.