BENGALURU: The Bruhat Bengaluru Mahanagara Palike (BBMP) budget for the year 2016-17 was presented on Monday with a total budget outlay of Rs 8994.41 cr. With limited expectations from its own revenue sources, the budget of city’s civic body is heavily dependent on state government grants. The budget outlay is almost double the size of previous year budget.
The budget book presented by M Shivaraju, chairman, standing committee on taxation and finance, has no major hopes for the ailing infrastructure of the city. Most of the projects announced in the state budget have been repeated.
Riding on the recent revision of property tax slabs, BBMP is expecting a revenue of Rs 2445.10 crore. But the implementation of the budget depends on delivery of Rs 4235.80 Cr state government grants as this forms 47% of total money the civic body is expecting.
Credits ET Realty