Unlike previous years, the City Corporation in its annual budget for 2016 – 17 fiscal has given utmost priority for tax revenue enhancement, plugging revenue loss and identifying additional revenue sources to strengthen the ailing civic body exchequer.
The first budget of the new UDF- led civic administration presented by deputy Mayor T.J Vinod on Saturday expects Rs 883.55 crore as income and Rs 840.95 crore as expenditure, making it a surplus budget of Rs 24.57 crore.
Through various measures, the Corporation is expected to have additional revenue of Rs 81 cr other than the Rs 50 cr to be pooled from CSR funds of big corporate houses.
Some of the major initiatives proposed for revenue enhancement are cess on vacant plots in the city, special development charge for realty development within 500 metres of Metro stations, mobile tower tax, entertainment tax for cable TV, intensive professional tax collection drive, imposing property tax on Cochin Port Trust areas and identifying and reclaiming the Corporation’s lost assets.
Amid widespread complaints against the poor financial management of the civic body, the deputy Mayor has proposed a detailed study by an expert agency on the financial status of the Corporation and ways to avoid revenue leakages. The agency will be asked to submit its report in three months.
The budget which announced a slew of projects for the road and transport sector has proposed to introduce ‘design, build, finance, operate and transfer’ (DBFOT) annuity system for construction and maintenance of roads on a guarantee period of 15 years.
An agency will be entrusted to carry out the innovative scheme of road development for which the civic body will pay service charge for the period of 15 years.
Large allocations have been made for road development, junction improvement, flyovers, underpasses, waste management, mosquito eradication, drainage, water transport, drinking water supply, parking, housing and social welfare schemes.
Allocation of Rs 8 crore has been made for various scientific mosquito control measures to be taken up with the support of the Vector Control Research Institute, Pondicherry.
The decentralised sewage projects proposed in various parts of the city as part of the City Sanitation Plan will be carried out using Rs 17 cr, including State and Union governments’ financial assistance.
Introduction of modern RO-RO vessels in Vypeen – Fort Kochi routes, lifting of toll collection at Pullepady Bridge, beautification and development of MG Road, commencement of modern waste to energy plant construction at Brahmapuram in six months, restoration of canals by evacuating all encroachments are some of the other major announcements made by the deputy Mayor.
