NMMC tables budget for 2015-16 in standing committee
NMMC administration on Friday tabled its budget for 2015-16 for the approval of the standing committee with projected income of Rs 1,866.93 crore and estimated expenditure of Rs 1,866.38 crore.“The administration has tabled a smart budget focused on completing previous projects,” said civic chief D T Waghmare.The focus is on completing the road development work at TTC industrial belt, a Rs 350-crore project, of which only work worth Rs 50 crore has been completed,” added Waghmare.
The rationale behind not having any major projects is for reducing the capital expenditure incurred by the civic body. Some of the previous projects to be completed include the Bharat Ratna Dr Babasaheb Ambedkar Memorial for which an additional sum of Rs 9.12 crore has been provisioned.
Funds have also been provisioned for asphalting Palm Beach Road and building a night shelter for the homeless. An amount of Rs 66 crore has been provisioned for a solar project with the expectation of generating 21.5MW electricity. To increase revenue, the annual target to be achieved by each of the major revenue sources has been increased. With no communication from the government about discontinuing LBT, NMMC has set Rs 850 crore to be recovered in 2015-16 from this medium.