All categories given equal priority in budget: GVMC chief
By giving all categories equal priority, the Greater Visakhapatnam Municipal Corporation GVMC has unveiled its annual budget of Rs 3,83410 crores for the financial year 20192020 here on Wednesday
Visakhapatnam: By giving all categories equal priority, the Greater Visakhapatnam Municipal Corporation (GVMC) has unveiled its annual budget of Rs 3,834.10 crores for the financial year 2019-2020 here on Wednesday.
Addressing media, GVMC Commissioner M Harinarayanan said that all categories were given equal priority in allocation of funds in the new financial year. “We had ended up with a closing balance of Rs 123.50 crores,” he said.
The major receipts were property tax Rs 400 crores), bulk and semi-bulk charges Rs 275 crores, assigned revenue Rs 255 crores and building penalisation scheme Rs 105 crores, said Hari Narayanan and added the budget will be effective from April 1 onwards.
The GVMC also expecting major grants of Rs 488 crores through externally aided projects and others grants and loans like CIIP Rs 235 crores, NOAP Rs 225 crores. Loans/bonds Rs 170 crores and Rs 100 crores each from SC sub-plan grants and Swachh Bharat missions including other expected loans from AMRUT, CDP funds, MP Lads, NULM and JNNURM, said the GVMC chief.
GVMC is also planning to spend Rs 1,059.35 crores under various proposed engineering projects like roads, drains, community halls, buildings, compound walls, traffic islands, foot paths, cyclone works, deposit contribution works including bridges and culverts and other engineering works.
GVMC has been allocated Rs 47.50 crore for lighting section while Rs 246.50 crore for water supply works, Rs 369.75 crore and other categories have been allocated according to their priorities, he added.