Outlay, sources claimed, will be less than Rs. 8,000 crore as against last year’s Rs. 8,519 crore
Bangaloreans, who were disappointed that the State Budget did not hold much for the city, are looking with hope at the Bruhat Bangalore Mahanagara Palike (BBMP). The civic body is all set to present its budget for 2014-15 on Monday.
According to sources, the budget will be a “development oriented” one. The outlay, the sources claimed, will be less than Rs. 8,000 crore. Last year, the amount was Rs. 8,519 crore. It will focus on improvement of the city’s basic infrastructure, specially drains, footpaths and roads.
Some of the projects that are likely to find a mention are steel bridges between Hudson Circle and Minerva Circle, and another from Shivananda Circle to Seshadripuram Railway Underbridge, and an elevated road between Sony World Junction and Kendriya Sadan in Koramangala.Funds position
The State Budget had allocated Rs. 1,527 crore to the BBMP under various schemes. That apart, projects worth Rs. 1,500 crore have been approved under the Jawaharlal Nehru National Urban Renewal Mission.
The civic body has pending bills amounting to Rs. 2,000 crore and outstanding loans of Rs. 3,000 crore.
This year, the BBMP hopes to garner Rs. 3,000 crore through taxes from various sources. To improve revenue through property tax collections, a special cell targeting high value properties has been proposed.No new burden
Sources said that with parliamentary elections round the corner, the ruling party in the BBMP Council is expected to announce a few populist schemes to woo voters. Towards this end, the Bharatiya Janata Party has decided not to increase taxes.
Though property tax rates should have been revised, the Bruhat Bangalore Mahanagara Palike has deferred the decision, sources added.
The budget will be presented by the chairperson of the BBMP’s Standing Committee for Taxation and Finance, M.S. Shivaprasad