The Greater Visakhapatnam Municipal Corporation (GVMC) has approved a budget of Rs 4,300 crore for the year 2023-24 in a council meeting chaired by Mayor G Hari Venkata Kumari. This budget includes an opening balance of Rs 480 crore and a closing balance of Rs 239 crore. The GVMC has set a goal of spending approximately Rs 4,063 crore on both revenue and capital projects.
The budget has been divided into various segments, with a significant allocation of funds to infrastructure development. Rs 80 crore has been earmarked for the development of the Mudasarlova park and reservoir, Rs 190 crore for the construction of concrete and blacktopped roads, Rs 60 crore for flyovers, Rs 78 crore for road maintenance, Rs 55 crore for new drains, Rs 100 crore for new water supply lines, Rs 100 crore for smart city projects, and Rs 10 crore for solar lighting.
Furthermore, the GVMC has allocated Rs 937 crore for engineering works, Rs 425 crore for public health, Rs 537 crore for urban community development projects, Rs 114 crore for parks, leisure, and cemeteries, Rs 259 crore for water supply, Rs 399 crore for other projects. The budget allocation by GVMC for 2023-24 demonstrates its focus on improving the infrastructure and overall development of the city.
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