The Hindu 29.03.2013
VMC continues to depend on capital receipts
Continuing its tradition of largely depending on capital receipts, the Vijayawada Municipal Corporation presented the 2013-14 budget.
In the total outlay of Rs. 1,230 crore, the capital income contributed a lion’s share of Rs. 808 crore.
The revenue receipts, however, are Rs. 350.08 crore.
The receipts from Jawaharlal Nehru National Urban Renewal Mission (JNNURM), Rajiv Awas Yojana (RAY), Solar City etc are estimated to fetch Rs. 789 crore.
The budget estimates for 2012-13 under these heads was Rs. 610.73 crore.
The total capital receipts including state government granst, 13th finance commission, SJSRY, etc. is put as Rs. 639.72 crore in 2102-13 budget estimates.
However, the revised budget estimates for 2012-13 stood at Rs. 78.95 crore.
The receipts from property tax, vacant land tax, service charge in lieu of property tax from railway etc is estimated to be Rs. 150.08 crore, while it was Rs. 109.84 crore in 2102-13 budget estimates.
The assigned revenues like income of transfer of immovable properties and stamp duty etc is Rs. 46. 14 crore as against last year’s Rs. 43 crore.
The Corporation has estimated that the property tax collection will touch Rs. 138.12 crore during 2013-14. The budget estimate for 2012-13 is Rs. 49.30 crore. However, the revised budget estimates for 2012-13 touched Rs. 71.01 crore.
The property tax collection went up by Rs. 8.48 crore in 2012-13 compared to Rs. 62.53 crore in 2011-12.
The vacant land tax also touched Rs. 8.29 crore in revised budget estimates 2012-13 as against 2012-13 budget estimates of Rs. 5.14 crore. The budget estimates for 2013-14 for VLT is Rs. 9 crore.
A major chunk of Corporation’s revenue receipts go towards salaries of employees. The budget estimates for 2013-14 is Rs. 345.16 crore, while it was Rs. 311.13 crore. The operational expenses have gone up to Rs. 123.58 crore from last year’s Rs, 88.02 crore.
The loan repayments touched Rs. 30 crore.
The UBI loan repayment is Rs. 9.90 crore, while the Hudco and Corporation Bank loan loans are Rs.20.07 crore.
The property tax collection went up by Rs. 8.48 crore in 2012-13 compared to Rs. 62.53 crore in 2011-12.
