GVMC officials cap budget for 2023-24 at 4063 cr, engineering department gets 23%

The Greater Visakhapatnam Municipal Corporation (GVMC) officials have prepared a budget estimate draft for the 2023-24 financial year. As per their estimate, the budget for the 2023-24 fiscal sums up to Rs 4063.49 crores, which is Rs 483.13 crores more than the previous year. The GVMC officials allocated a hefty 937.61 crores, or 23.07% of the total budget, crores to the engineering department, Rs 47 crores higher than 2022-23 fiscal. The civic body will present the estimate to the council for approval on 15 February 2023.

After the engineering department, the UCD and public health departments were allotted significant portions of the budget at Rs 537.35 crores (13.22%) and Rs 425.88 crores (10.48%), respectively. The water supply department (Rs 259.85 crore), funding of finance committee (Rs 281.5 crore), externally aided projects (Rs 191.2 crore), and lighting department (Rs 151.92 crore) followed.

Out of the estimated 4063.49 crores, the general administration and town planning departments were allotted Rs 175.15 crores and Rs 52.42 crores, respectively. The GVMC officials estimated that maintenance of parks and cemeteries within the city

Citing the income generation during the 2023-24 fiscal, the civic body officials estimated a revenue of Rs 3,822 crores.

Below are the details of the budget estimated for 2023-24 by the Greater Visakhapatnam Municipal Corporation.

Education department- Rs 19.07 crores (0.47%)

JNNURM- Rs 55.75 crores (1.37%)

Projects- Rs 399.7 crores (9.84%)

Deposits and advances- Rs 292.7 crores (7.2%)

Stay tuned to Yo! Vizag website and Instagram for more city updates.