Vijayawada Municipal Corp presents Rs 1,114.93 cr budget for 2022-23
ECONOMY & POLICY

Vijayawada Municipal Corp presents Rs 1,114.93 cr budget for 2022-23

Vijayawada Municipal Corporation (VMC) council has presented a budget of Rs 1,114.93 crore for the financial year (FY) 2022-23.

It is the lowest budget of, at least, the past seven budgets submitted by the VMC. The civic body is short of Rs 52.58 crore going by the calculated expenditure and revenue.

Initially, Mayor Rayana Bhagya Lakshmi addressed the council and notified the members that the VMC income was estimated at Rs 1,161.37 crore and expenditure at Rs 1,114.93 crore. Revenue and capital income reached Rs 999.22 crore, initial reserves at Rs 99.02 crore, deposits at Rs 63.13 crore and total income at Rs 1,161.37 crore. Expenditures comprise capital expenditure of Rs 437.47 crore, revenue expenditure of Rs 596.20 crore, loan payments of Rs 18.11 crore, deposits and advances of Rs 63.13 crore.

Additionally, the government has assigned Rs 50 crore from the State budget and Rs 20.50 crore in the updated budget estimates for infrastructure development in the city.

She further said that the VMC would render free medical care to outsourced workers affected in accidents during duty. The VMC will provide up to Rs 2 lakh on emergency expenditures. Of the 225 retired employees who have been pending since 2009, 104 were paid Rs 84 lakh and the rest Rs 15.75 crore was provided to the treasury. The VMC owed Rs 140 crore during the Congress regime and Rs 100 crore during the TDP regime to the residents of the city. But the government is creating a sustainable city without any debt from the Central, State and VMC general budget funds.

Image Source

Also read: Property Registrations under land scheme launched in Andhra Pradesh

Vijayawada Municipal Corporation (VMC) council has presented a budget of Rs 1,114.93 crore for the financial year (FY) 2022-23. It is the lowest budget of, at least, the past seven budgets submitted by the VMC. The civic body is short of Rs 52.58 crore going by the calculated expenditure and revenue. Initially, Mayor Rayana Bhagya Lakshmi addressed the council and notified the members that the VMC income was estimated at Rs 1,161.37 crore and expenditure at Rs 1,114.93 crore. Revenue and capital income reached Rs 999.22 crore, initial reserves at Rs 99.02 crore, deposits at Rs 63.13 crore and total income at Rs 1,161.37 crore. Expenditures comprise capital expenditure of Rs 437.47 crore, revenue expenditure of Rs 596.20 crore, loan payments of Rs 18.11 crore, deposits and advances of Rs 63.13 crore. Additionally, the government has assigned Rs 50 crore from the State budget and Rs 20.50 crore in the updated budget estimates for infrastructure development in the city. She further said that the VMC would render free medical care to outsourced workers affected in accidents during duty. The VMC will provide up to Rs 2 lakh on emergency expenditures. Of the 225 retired employees who have been pending since 2009, 104 were paid Rs 84 lakh and the rest Rs 15.75 crore was provided to the treasury. The VMC owed Rs 140 crore during the Congress regime and Rs 100 crore during the TDP regime to the residents of the city. But the government is creating a sustainable city without any debt from the Central, State and VMC general budget funds. Image Source Also read: Property Registrations under land scheme launched in Andhra Pradesh

Next Story
Infrastructure Transport

Railway stations in Prayagraj undergo major passenger facility expansion

The Railway Board Chairman and CEO, Satish Kumar, conducted an extensive inspection on Saturday alongside the General Manager of Northern Railway and the officiating General Manager of North Central Railway. Their visit focused on various ongoing projects at multiple stations across the Northern and North Central Railway zones, with particular attention to enhancing facilities for the upcoming Maha Kumbh. During the inspection, Chairman Kumar reviewed the construction of a vital bridge over the River Ganga, specifically between Jhunsi and Prayagraj Rambagh. This bridge is expected to significa..

Next Story
Infrastructure Transport

Madurai-Thoothukudi broad gauge line works under review

The construction of the Madurai-Thoothukudi broad gauge line, which includes the crucial Melmarudur-Tiruparankundram project, is currently under careful review. This update comes from Southern Railway's assistant public information officer, J Kumarasubramanian, following an RTI inquiry made by a concerned citizen, Dayanand Krishnan. The new broad gauge line is projected to cover a total length of 143.5 km, with the initial 18 km stretch between Milavittan and Melmarudur completed and sanctioned by the Commission of Railway Safety on March 8, 2022. While substantial progress has been made on t..

Next Story
Real Estate

DLF expects Rs 26,000 cr from super luxury project in Gurugram

Realty giant DLF is projecting impressive revenue of Rs 26,000 crore from its newly unveiled super-luxury project, The Dahlias, situated in the heart of Gurugram. Ashok Tyagi, the Managing Director of DLF, shared these insights during a recent conference call with market analysts, highlighting the project's potential amidst rising demand for high-end residential properties. The Dahlias project spans an expansive 17 acres and is set to feature approximately 420 ultra-luxury apartments, each boasting a minimum size of 10,300 square feet. This ambitious development has already garnered significan..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000