BMC budget deficit may go up
THE DEFICIT of Bhopal Municipal Corporation (BMC) budget is likely to go up to Rs 45 crore for the next fiscal ?2006-07. The BMC budget will be presented on March 24.india Updated: Mar 19, 2006 13:41 IST
THE DEFICIT of Bhopal Municipal Corporation (BMC) budget is likely to go up to Rs 45 crore for the next fiscal —2006-07. The BMC budget will be presented on March 24.
The amount of next year’s budget could be about Rs 310 crore as the BMC may fail to get expected amount under the Union Government funded Jawaharlal Nehru National Urban Renewal Mission (JNNURM).
Sources said that the budget proposals have yet to be given final shape as Mayor Sunil Sood is still consulting the opposition members of Bharatiya Janata Party (BJP), the party that holds majority in the 66-member BMC General Council.
According to sources, the budget amount could be increased before the finalisation of budget proposals.
It is learnt that the increase in budget would depend on the amount of schemes under JNNURM to be implemented during the next fiscal. The schemes under the JNNURM are to be implemented during next five years.
Besides, the expenditure on schemes like Kolar Augmentation Scheme-II, Bairagarh Augmentation Scheme, Transport Nagar, MP Nagar, Asian Development Bank-funded schemes, Narmada Augmentation Scheme could also be included in this budget.
The fiscal deficit for the current financial year was projected at Rs 33 crore, which had gone up to Rs 40 crore. The fiscal deficit for year 2006-07 may go up if the corporators are given 50 per cent of total amount of property tax.