The Times of India 11.03.2013
AMC registers fiscal deficit of 45% in 2012-13
AURANGABAD: Amidst poor tax recovery and a fiscal deficit
of 45% in the current financial year, allocations for new development
works and continuing last year's projects in the 2013-14 budget will be a
challenge for the Aurangabad Municipal Corporation (AMC).
According to the sources, the budget which will be announced in the
next 10 days, will have a limit of Rs 500 crore. But a year-on-year
growth in expenditure is not likely to happen. "Anything above this mark
would be non-realistic and may result in huge fiscal deficit," said the
sources.
The municipal body had proposed a budget of Rs 786.14
for 2012-13 fiscal and generated a revenue of Rs 673.55 crore, capital
income of Rs 99.65 crore and deposits and other income of Rs 12.94
crore.
The municipal body was expecting to generate Rs 230 crore through local body tax
(LBT) in 2012-13. However, it will only be able to collect LBT in the
range between Rs 170 crore to Rs 180 crore. Similarly, against the civic
body's target of Rs 100 crore property tax collection in the current
fiscal, the officials could reach Rs 45 crore till March end.
Water bill recovery, will amount to about Rs 20 crore, while the target
was Rs 40 crore. The civic body was expecting Rs 65 crore collection
from town planning in the form of fee and other charges. But the
municipal body will not cross Rs 35 crore mark. Also, the AMC did not
receive a special grant of Rs 100 crore from the state government, which
was shown in its budget.
The differences in target figures and actual recovery amounts to a deficit of more than Rs 300 crore.