GVMC gives big push for engineering projects
08 Jan 2024
2 Min Read
CW Team
The Greater Visakhapatnam Municipal Corporation (GVMC) has proposed a Rs 5,614 crore budget for 2024-25, including a Rs 664 crore opening balance. This is a nearly 25% increase from the Rs 4,303 crore budget approved for 2023-24. However, the 2023-24 budget has been recently revised to Rs 3,793 crore. The GVMC is likely to hold a council meeting in the first week of January 2024 to formally pass budget for the next financial year.
The municipal corporation has set a target of spending about 5,457 crore on both revenue and capital projects. This will result in a closing balance of 157 crore for 2024-25 as per the budget proposals.
Engineering works will receive the largest allocation in the budget at 1,366 crore, followed by projects (1,046 crore), public health (526 crore), parks leisure, and cemeteries (181 crore), water supply (359 crore), lighting (163 crore), etc. The major income sources of the GVMC will include Amrut (512 crore), externally aided projects (105 crore), finance commission funds (375 crore), water supply (338 crore), public health (503 crore), projects (1,001 crore), etc.
GVMC mayor G Hari Venkata Kumari said the 2024-25 budget proposals were approved by the civic body's standing committee during their recent meeting. The proposals were discussed at length. Following this, a council meeting will be convened to discuss the proposals and grant final approval, said Hari Venkata Kumari.
The Greater Visakhapatnam Municipal Corporation (GVMC) has proposed a Rs 5,614 crore budget for 2024-25, including a Rs 664 crore opening balance. This is a nearly 25% increase from the Rs 4,303 crore budget approved for 2023-24. However, the 2023-24 budget has been recently revised to Rs 3,793 crore. The GVMC is likely to hold a council meeting in the first week of January 2024 to formally pass budget for the next financial year.
The municipal corporation has set a target of spending about 5,457 crore on both revenue and capital projects. This will result in a closing balance of 157 crore for 2024-25 as per the budget proposals.
Engineering works will receive the largest allocation in the budget at 1,366 crore, followed by projects (1,046 crore), public health (526 crore), parks leisure, and cemeteries (181 crore), water supply (359 crore), lighting (163 crore), etc. The major income sources of the GVMC will include Amrut (512 crore), externally aided projects (105 crore), finance commission funds (375 crore), water supply (338 crore), public health (503 crore), projects (1,001 crore), etc.
GVMC mayor G Hari Venkata Kumari said the 2024-25 budget proposals were approved by the civic body's standing committee during their recent meeting. The proposals were discussed at length. Following this, a council meeting will be convened to discuss the proposals and grant final approval, said Hari Venkata Kumari.
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