Degeneracy of a neural circuit is the ability of the neural circuit to produce the same output despite being structurally different. Our model gives an insight into the possibility of degeneracy at the source level of the neural circuits, i.e. at the level of neuromodulators. This dataset contains code and data to plot activity profiles of a particular model and compute the maximum percentage of deviations of the activity profiles of neuronal populations of a particular model, from their experimental values; to generate activity profiles as per the experimental outcomes in the associated paper; and to perform stability analysis for the models described in the manuscript, both individually and together.