No new tax in Indore Municipal Corporation budget
No new tax has imposed in the Indore Municipal Corporation (IMC)`s Rs 1979.55 crore budget for FY 2013-14 presented on Monday.
Indore: No new tax has imposed in the Indore Municipal Corporation (IMC)`s Rs 1979.55 crore budget for FY 2013-14 presented on Monday.
The budget lays emphasis on improving drainage system, water supply, road works, revival and cleaning of wells in the city, which is the commercial capital of Madhya Pradesh.
Presenting the budget, Mayor Krishan Murari Moghe said the IMC plans to spend Rs 1987.53 crore on various civic works in the current fiscal. This would lead to a deficit budget of Rs 63.85 crore in the stipulated year.
IMC recover pending dues from citizens on account of property tax and reduce the deficit estimates, Moghe said.
The civic body neither proposed any new tax nor offered any major concessions to citizens. It, however, provided minor rebates on advance payment of property tax, the Mayor said.
In FY 2012-13, IMC had projected revenue budget proposals of Rs 1479 crore. But it could earn revenue of Rs 750 crore, incurring a deficit of Rs 41.98 crore, he said. Moghe claimed IMC had spent Rs 600 crore on Narmda Water Project for Indore in its third phase.
Mayor informed the House IMC had asked the MP Government to pay dues of Rs 150 crore on account of pending bills related to Narmada project and infrastructure development plans.
The Budget proposals would be taken up for debate in next meetings of the corporation.