GHMC has prepared the new budget worth 6,150 crores for the financial year 2022-23. The Standing Committee will sit today for its approval. The budget has revenue of Rs 3,434 crore and revenue expenditure of Rs 2,800 crore, of which Rs 634 crore is surplus. The budget also has capital gains of Rs 3,350 crore and expenses are Rs 3,350 crore.
An amended budget is also proposed for the 2021–22 financial year. It was approved last year at Rs 5,600 crore and was revised to Rs 6,300 crore. It will also come before the Standing Committee. It will be introduced at the General Body meeting after approval. Once it is approved there, it will be sent for government approval.
The corporation is expecting 1,700 Crore from Property Tax and another 1,700 Crore from Town Planning. The Corporation is expecting another 708 Crore from the Fifteenth Finance Commission grant and 660 Crore from other incomes. The budget also has a mention of 1302.89 Crore mentioned under 'funds to be raised' meaning loans. But the experts say the dependence on loans will be much more than projected.