The municipal corporation has approved the annual budget of ₹990.70 crore for 2024-25 financial year. The budget was approved during a meeting of the technical advisory committee (TAC) held under the chairmanship of MC commissioner Sandeep Rishi on Tuesday.
Last year’s sanctioned budget stood at ₹937 crore.
The budget encompasses various categories, including property tax, water tax, MC tax on electricity, cow cess, additional excise duty, temporary lease, advertisement on MC properties, shops and establishment license fee, plan sanction fee, change of land use, fines for illegal construction, tehbazari composition fee, Right to Information fee, library fee, road cutting charges, sale of land, fire tender expenses, auditor fee, solid waste management, night shelter expenses, directorate charges, diesel and fodder for impounding, chlorine chemicals for water treatment, stormwater drains, street lighting systems, parks and gardens, sewage disposal systems, slum infrastructure, computer repair expenses, bridges, sewerage and drainage, bitumen roads, plants, and machinery, among others.
The MC aims to generate ₹12.50 crore from advertisements in the new financial year, compared to ₹10.50 crore targeted in the previous year. In the fiscal year 2023-24, the civic body generated only ₹6.40 crore from advertisements between April 1 and December 31, 2023. It expects to generate an additional ₹4.10 crore from January 1 to March 31, 2024.
For the next financial year, the MC plans to allocate ₹9 crore for solid waste management, ₹18 crore for diesel purchase, ₹22 crore for sewerage, ₹5.5 crore for parks and gardens, ₹70 crore for street cement concrete flooring, and ₹10 crore for bitumen roads.
{{/usCountry}}For the next financial year, the MC plans to allocate ₹9 crore for solid waste management, ₹18 crore for diesel purchase, ₹22 crore for sewerage, ₹5.5 crore for parks and gardens, ₹70 crore for street cement concrete flooring, and ₹10 crore for bitumen roads.
{{/usCountry}}In terms of revenue generation, the MC aims to collect ₹140 crore from property tax in the upcoming financial year, compared to ₹130 crore target for the ongoing fiscal year. Similarly, the MC aims to generate ₹60 crore from water supply and sewer charges, although it has struggled to meet the target for the current fiscal year. Additionally, the MC aims to secure a maximum income of ₹625 crore from the Punjab municipal fund during 2024-25.