New Delhi, Oct 21 (PTI) With civic body polls scheduled early next year, the North Delhi Municipal Corporation on Thursday rolled back the hike in trade and factory licence fees, officials said. The corporation had increased the fees for general trade licence and factory licence last year in August. However, a senior official in the north corporation said the decision will have an adverse effect on the financial health of the civic body. The decision to roll back the hike was taken during a House meeting of the corporation on Thursday. "We have rolled back the increased trade and factory licence fees. It has been passed by the House today (Thursday). Now the earlier charges of trade and factory licence fees will be applicable. The decision will benefit a large number of traders in the jurisdiction of North MCD," Mayor Raja Iqbal Singh said. The opposition Aam Aadmi Party (AAP) had protested against the hike and demanded its immediate roll back. With this move, traders in category A and B areas will now have to pay Rs 500 yearly trade license fee instead of an increased rate of Rs 3,450. Similarly in C and D category, traders will now have to pay Rs 500 instead of Rs 2,300 while in E,F, G and H category areas, traders will have to pay Rs 500 instead of Rs 1,150. The decision to waive off property tax of houses measuring up to 50 metres, which was announced a few months back, is yet to be approved by the House. The senior official said the decision to roll back the hike will affect the financial condition of the corporation. "Such populist moves will further deteriorate the financial condition of the corporation, which is already cash-strapped. There is a need to take some tough decisions to increase the municipality"s revenue," the official said on the condition of anonymity. PTI AKM SNE