Rs 3,834 crore Budget for Visakhapatnam
Rs 1,060 crore was allocated for engineering works, Rs 100 crore for AMRUT scheme, Rs 246.5 crore for water supply.
Visakhapatnam: The Greater Visakhapatnam Municipal Corporation council on Wednesday presented its Budget for financial year 2019-20. The corporation estimates the total income, including the opening balance, at '3,834.10 crore and overall expenditure to be '3,740.65 crore in the coming fiscal.
Releasing the Budget here, municipal commissioner M. Hari Narayanan said that the civic body has so far earned '1,103 crore during this financial year. He expected the total revenue to be '1,625.23 crore in next fiscal.
“The income includes '400 crore from property tax, which is the major source of revenue, '275 crore through bulk and semi-bulk water charges, and '255 crore from assigned revenue,” Mr Narayanan said.
The GVMC has targeted '105 crore, '100 crore and '78 crore from building penalisation scheme, building plan approvals and vacant land taxes respectively. It is looking to receive '488 crore for externally-aided projects.
Of the proposed '3,740.65 crore budget, '1,060 crore was allocated for engineering works, '100 crore for AMRUT scheme, '246.5 crore for water supply, '70 crore for JNNURM works and '47.5 crore for lighting project works.
Mr Harinarayanan disclosed that the municipal corporation would be spending '290.75 crore on public health. An amount of '42 crore has been allocated to the education sector and '26.25 crore for horticulture.
He informed that a trial run would be initiated on the bus rapid transit system (BRTS) routes to examine compatibility for electric buses before calling for tenders. The state government would support with '100 crore for civil works.