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

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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

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