The Vijayawada Municipal Corporation (VMC) on Wednesday presented the budget for the year 2015-16 sans capital expenditure and receipts in view of the election code for ensuing MLC polls.
This is second time in succession that the corporation presented only revenue receipts and expenditure as part of its budget. The exercise was put on hold last year in view of the general elections.
The burden on people is likely to be around Rs. 120 crore, going by the corporation’s budget estimates. Property tax is likely to generate Rs. 132 crore as against Rs. 120 crore of the revised estimates for 2014-15.
Likewise, the tax on vacant land is estimated to be about Rs. 11.96 crore against the revised estimates of Rs.10.87 crore for last year. The VMC is hopeful of improving revenue collection by way of taxes to the tune of Rs. 13.84 crore this year. The trade licence fee is estimated to fetch Rs. 10.50 crore from Rs. 6.15 crore in last year.
The income on water tariff is pegged at Rs.30.93 crore as against the existing Rs. 28.51 crore. This would indirectly impose a burden of Rs.2.4 crore on the people. Income through drainage charge, donations, regularisation, tap connections etc is estimated to go up by Rs.12.27 crore.
The VMC estimated that revenue through betterment charges and layouts, compounding fee, building regularisation fee is estimated to be at Rs. 35.54 crore, of which building regularisation fee alone is expected to fetch Rs. 30 crore. Assigned revenues such as entertainment tax, tax compensation, seignorage and stamp duty are expected to go up by Rs. 28.43 crore to Rs. 99.59 crore from Rs. 71.15 crore during last fiscal.
In all, the VMC is estimating that the revenue receipts will be Rs. 444 crore during the next fiscal as against Rs.331.83 crore during the current financial year. However, repayment of loans alone will be around Rs. 64.83 crore from the total revenue income.
