GVMC gives big push for engineering projects

08 Jan 2024 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.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..