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Budget estimates misleading: CPI(M):

CPI(M) has found fault with the budget proposals of the GVMC for 2016-17 stating its projected revenues are misleading and appeared to be taxing people with user charges and various other taxes.

The Rs.150 crore to be sanctioned by the State government and the Rs.80 crore from the Centre under JNNURM are unlikely to be made good with the mission wound up, party city secretary B. Ganga Rao told reporters.

Other expected grants from the Centre and the State in 2015-16 and 2016-17 accounted for Rs.400 crore while Rs.200 crore from ADB and World Bank funds of Rs.98 crore are also expected.

However, with GVMC paying Rs.40 crore towards interest, it would further push it into a debt trap, Mr. Ganga Rao said.

On other hand, mobilising Rs.375 crore from property tax was leading to apprehensions that the rates would be increased.

Discrepancies

Mr. Ganga Rao alleged glaring discrepancies in budget estimates and final spending. In 2006-07 estimates, revenue was shown as Rs.1,702.41 crore and expenditure Rs.1,609.94 crore while the final revenue was 291.15 crore and expenditure Rs.295.23 crore. In 2014-15, budget estimate had projected a revenue of Rs.1,991.89 crore while in reality it was Rs. 820 crore and expenditure Rs. 860 crore, he said.


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