IMC budget may cross Rs 700 cr

IF THE Mayor-in-Council (MiC) deliberations over the past two days are any indicator, the Indore Municipal Corporation (IMC) budget for 2006-07 is likely to exceed Rs 700 crore, an increase of nearly Rs 300 crore over the last fiscal.

IF THE Mayor-in-Council (MiC) deliberations over the past two days are any indicator, the Indore Municipal Corporation (IMC) budget for 2006-07 is likely to exceed Rs 700 crore, an increase of nearly Rs 300 crore over the last fiscal.

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The ten-member MiC, which has been deliberating budgetary provisions for the past two days at the Narmada project office at Moosakhedi, is learnt to have agreed that annual outlay needed to be at least Rs 700 crore for the Corporation to meet its expenses.

The budgetary brainstorming session began on Tuesday afternoon and continued until late in the evening before being adjourned until today evening, when the MiC members again gathered to hammer out a fiscal roadmap for 2006-07.

Although the elected representatives werea tight-lipped, Corporation sources disclosed that MiC members argued for hiking budget so as to be able to repay loans taken for