GVMC gives big push for engineering projects
ECONOMY & POLICY

GVMC gives big push for engineering projects

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.

Next Story
Infrastructure Transport

JNPA Becomes First Indian Port to Cross 10 Million TEU Capacity

The Jawaharlal Nehru Port Authority (JNPA), located at Uran in Navi Mumbai, has become the first port in India to achieve over 10 million TEUs (twenty-foot equivalent units) in container handling capacity.With the recent expansion, the port now operates five container terminals with a combined capacity of 10.4 million TEUs, alongside two liquid and two general cargo terminals.Handling more than half of India’s container traffic, JNPA processed 7.05 million TEUs in 2024 and has moved 15.39 million tonnes of containers and 16.64 million tonnes of total cargo in the first two months of FY 2025â..

Next Story
Infrastructure Transport

Nod for Rs. 36.26 billion Expansion of Pune Metro Line 2

The Union Cabinet has approved the Rs.36.26 billion expansion of Pune Metro Line 2, adding 12.75 km of track and 13 new stations to improve east–west connectivity across the city.The project aims to link Pune’s urban core with rapidly growing suburbs, supporting the city’s rising demand for efficient and sustainable transport solutions. This expansion is part of Corridor 2 of the Pune Metro and includes two key routes: Vanaz to Chandani Chowk (Corridor 2A) and Ramwadi to Wagholi/Vitthalwadi (Corridor 2B).It will connect residential, IT, and educational hubs in areas such as Bavdhan, Koth..

Next Story
Infrastructure Transport

Assembly begins for ‘Nayak’ TBM on Thane– Borivali Twin Tunnel Project

The assembly of ‘Nayak’, the first of four Tunnel Boring Machines (TBMs) for the Thane–Borivali Twin Tube Tunnel Project, has commenced at the Thane site. Built by German firm Herrenknecht AG and deployed by Megha Engineering & Infrastructure (MEIL), the TBM marks a key milestone in Mumbai’s ambitious 11.8-km underground road corridor beneath Sanjay Gandhi National Park.The twin tunnels will reduce the Thane–Borivali travel distance by 12 km and decongest Thane Ghodbunder Road. ‘Nayak’, with a 13.2-metre diameter, is designed to bore through challenging geological conditions ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?