MCT approves `395.81 cr budget

Tirupati: Municipal Corporation of Tirupati (MCT) has approved the annual budget 2023-24 with an outlay of Rs 395.81 crore. The Corporation council meeting held at SV university Senate hall on Saturday was presided over by Mayor Dr R Sirisha and attended by MLA Bhumana Karunakar Reddy and Municipal Commissioner Anupama Anjali.

Disclosing the budget details, Mayor and the Commissioner said that the budget for the next fiscal estimates Rs 150.27 crore revenue income while the capital income is estimated at Rs 238.98 crore. With the opening balance of Rs 6.55 crore, the total budget stands at Rs 395.81 crore. On the expenditure side, the revenue expenditure was estimated at Rs 100.44 crore while the capital expenditure would be Rs 286.30 crore. For repayment of housing loan Rs 5.60 crore will be spent which takes the overall expenditure to Rs 392.34 crore whereas the closing balance is estimated as Rs 3.48 crore.

It may be noted that the revised annual budget estimates for 2022-23 disclosed the total revenue as Rs 236.01 crore including Rs 139.17 crore as revenue income while Rs 88.15 crore was capital income and Rs 8.68 crore as opening balance. The total revised expenditures for 2022-23 fiscal stood at Rs 229.45 crore out of which Rs 128.87 crore spent on capital expenses and Rs 94.98 crore as revenue expenditure while another Rs 5.60 crore was paid as housing loan repayments.

On the occasion, Mayor Dr Sirisha thanked the MLA Bhumana and Deputy Mayor Abhinay Reddy for their efforts in the merging of Settipalli panchayat in the Corporation. The MLA asked the Corporation officials and council members to strive for collecting the taxes in the stipulated time and focus on increasing the revenue of the Corporation.  Corporators, co-option members, Additional commissioner Suneetha, deputy commissioner Chandramouleeswar Reddy, SE T Mohan, Revenue officer KL Varma, Manager Chittibabu and others were present.