PMC faces ₹753 crore deficit in 2021-22

PMC’s financial year is from April 1 to March 31. As per the audit report, PMC had approved ₹8,370 crore budget for 2021-22

The Pune Municipal Corporation (PMC) overshoots expenditure as compared to revenue generated by ₹753 crore in the financial year 2021-22.

The civic body earns revenue through taxes related to property, building permission, water, sky sign department and income from rented properties. (REPRESENTATIVE PHOTO)

Municipal commissioner Vikram Kumar placed the audit report for 2021-22 at the general body meeting for approval. As the civic body is run by the civic chief as administrator, Kumar will okay the audit report.

PMC’s financial year is from April 1 to March 31. As per the audit report, PMC had approved ₹8,370 crore budget for 2021-22.

The civic body earns revenue through taxes related to property, building permission, water, sky sign department and income from rented properties.

The expenses of PMC are staff salary, contribution to various mega projects like Metro, 24x7 water project, PMPML losses, school board expenditure and other projects.

As per the Bombay Provincial Municipal Corporations Act, though PMC faces financial deficit, the balance shall be carried forward in the budget of the next succeeding year and the civic body will show the amount as loan or borrowing.