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BBMP budget to be pegged at 5,000 crore for 2023-24
BBMP
Property tax is the largest source of revenue for BBMP. A target of Rs 4000 crore property tax collection has been set for the current year. However, only Rs 2,600 crore has been collected so far
Bengaluru: Only three and a half months are left for the end of the current financial year. Meanwhile, the Bruhat Bengaluru Mahanagara Palike (BBMP) finance department is already preparing the budget for the year 2023-24, and this time it has been discussed to set the budget size at Rs 5,500 crore.
The preparations have been made for the budget of BBMP 2023-24, regarding the projects and maintenance works to be undertaken under BBMP. At present, the finance department has requested information about the projects to be undertaken next year from various departments and the expenses incurred for the same.
Apart from that, the officials of the finance department have already discussed the size of the budget and it has been decided to fix the budget according to the revenue of BBMP excluding government grants.
Property tax is the largest source of revenue for BBMP. A target of Rs 4000 crore property tax collection has been set for the current year. However, only Rs 2,600 crore tax has been collected so far. Currently, Rs 4,000 crore property tax collection target has been set for the year 2023-24. Apart from that, an income of Rs 1,000 crore is expected from other sources including marketing fee, development fee.
Since BBMP's income does not exceed Rs 5,000 crore, it has been decided to set the budget size without expecting additional income. Accordingly, a budget of Rs 5,500 crore is being prepared. In particular, only solid waste management, road repair, development, salary payment and other management works and expenses are included in the budget.
The BBMP finance department also discussed not announcing any new projects in the budget for 2023-24. It has been decided to announce a new scheme only if the state or central government grants it. Also, in the year 2022-23, the state government has given a grant of Rs 6,000 crore for Amruta Nagarothana for BBMP.
Thus, it is expected to get a grant of Rs 500 to Rs 1,000 crores from the state government in the year 2023-24. Out of this, Rs 80 crore will be given for street lighting maintenance and Rs 150 crore for solid waste management. Thus, the grant given by the state government is earmarked only for the maintenance cost. If new projects are to be announced, it has been decided to think ahead only if the government provides additional funding.
"The budget size will be fixed according to the revenue of BBMP. At present, BBMP has an income of Rs 4,000 to 4,500 crore. Accordingly, a budget size of Rs 5,000 to 5,500 crore will be fixed. In addition, new projects will be announced in the budget only if the state and central government grant them," said Jayaram Raipur, BBMP Special Commissioner (Finance).
