Vijayawada: The tentative budget estimation of Vijayawada Municipal Corporation for the coming financial year of 2016-17 is roughly Rs 1,603 crore, with a surplus of at least Rs 25 crore. It was Rs 773.5 crore for the previous financial year, that is 2015-16.
The standing committee on the budget headed by the Mayor K. Sreedhar reviewed the estimations on Wednesday. The opening balance for the coming financial year is roughly Rs16.6 crore.
The VMC officials estimated that the income would be around Rs 484 crore, which was Rs 333 crore in the corresponding previous budget. Capital income would be Rs 1,080 crore. The estimated deposits and advances of the VMC would be about Rs 50 crore, which was Rs 41.24 crore in 2015-16.
The budget of the VMC increased enormously because of the phenomenal rise in the capital income and followed by revenue income.
The standing committee suggested changes in the demands of various departments. The present 2016-17 budget gained importance since the state government decided to develop the city into a world-class city.
The city is going to witness the Krishna Pushkaralu too this year. The Standing committee stated that this budget would be a milestone in the history of the VMC.
