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Municipal Finance

Devaswom hands over Rs 78.61 lakh to municipalit

Wednesday, 04 November 2009 08:51 administrator
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The New Indian Express 04.11.2009

Devaswom hands over Rs 78.61 lakh to municipalit

FAC


GURUVAYUR: Guruvayur Devaswom has handed over a cheque amounting to Rs 78.61 lakh to Guruvayur municipality as the first instalment of devaswom share for the Karuvannoor river water supply scheme here on Tuesday.

Devaswom administrator V Ratheesan handed over the cheque to municipal secretary N Vijayakumar and devaswom member A V Chandran at a meet held at Devaswom office. The water supply scheme from Karuvannur River is implemented under the Central Government’s Urban Infrastructure Development Scheme for Small and Medium Towns (UIDSMT) with an estimated cost of nearly 53 crore.

Around 80 percent of the total project cost will be obtained from the Centre, 10 percent from the State and remaining 10 percent will be contributed by the Guruvayur and Chavakkad municipalities.

The Devaswom will share 50 percent of the amount of Guruvayur municipality and in turn the Devaswom will receive 4 million litres of drinking water daily.

Ekadasi vilakku

Sampoorna Neyvilakku will be offered at the Sree Krishna Temple, here on Wednesday. The Ekadasi vilakku celebration on Wednesday is an endowment offering by Nanu Ezhuthassan and Sons, Thrissur.

Kazhchasiveli with melam and panchavadhyam will be held in the morning and afternoon.

Vilakku ezhunnellippu will be held at night. Subhash Chandra Bose, son of Nanu Ezhuthassan, is conducting the vilakku celebration annually in memory of his father.

Last Updated on Wednesday, 04 November 2009 08:54
 

MC to pay Rs 1-cr to sewer board

Friday, 25 September 2009 11:31 administrator
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Indian Express 25.09.2009

MC to pay Rs 1-cr to sewer board

Finally, the Municipal Corporation has agreed to pay Rs 1 crore to the sewer board to make various developmental projects going.

Against the demand of Rs 7.61 crore of Punjab Water Supply and Sewer Board, the MC Commissioner AK Sinha assured payment of Rs 1 crore to the sewer board. A cheque of the same amount will be issued on Friday morning, the MC said in a specially convened meeting today.

It needs to be mentioned that a number of works in the city, especially relating to the sewer board are lying pending for long because of the pending dues. The superintending engineer, Sewer Board, JS Bhattal said, Though we are already engaged in a number developmental works, the pace of the work will quicken even more now.”

Last Updated on Friday, 25 September 2009 11:33
 

BMC bid to fund infrastructure from its own cash

Friday, 18 September 2009 06:10 administrator
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The Times of India 18.09.2009

BMC bid to fund infrastructure from its own cash

Clara Lewis, TNN 18 September 2009, 02:34am IST

MUMBAI: The cash-rich BMC is planning to dip into its deep pockets to raise money for the city's various infrastructure projects. The corporation has sought the state government's permission to do so. It has Rs 8,000 crore in liquid cash parked in 31 different funds such as sinking fund, depreciation fund, assets improvement fund, and so on, which it now wants to put to good use.
It has planned to spend Rs 8,986 crore this year on upgrading the city's infrastructure, including roads, sewage, storm water drains, hospitals, and schools. But the BMC Act does not allow it to drawfrom these funds without state government approval.

A few years ago, when the BMC had sought such permission, the state government had turned it down for fear that the money would be taken from the provident and pension funds.

"The Rs 8,000 crore is in funds that do not include the provident and pension funds. These funds are meant for asset creation and upgradation,'' said BMC chief accountant Ram Dhas.

Two years ago the state government for the first time allowed the BMC to draw around Rs 600 crore for upgrading the water supply system. The corporation is hopeful that it will be done this time as well.

"When we draw from the internal funds, we will be paying an interest of only 10%, but if we were to approach the open market it would cost us 13% in interest,'' said officials.

Last year, when the state government had asked a private agency to rate municipal bodies across the country, the BMC had received an A+ rating because of its strong finances, but it was also rapped as its municipal services were not up to the mark.
 
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