Corporation presents Rs 912 crore surplus budget for 2021-22 fiscal

KOCHI: The LDF-ruled corporation’s budget for 2021-22  presented on Saturday put more emphasis on project implementation following strict financial discipline. To implement the proposed projects in a time-bound manner, the corporation decided to set up a budget monitoring system. A committee comprising members of the tax and finance committees will monitor the projects. 

Besides, the status report of all the projects will be updated on the corporation’s website. The budget also assured that the new tendering process will be initiated after a thorough examination by both the finance and works Standing Committee. Deputy Mayor K A Ansiya unveiled the surplus budget which expects a revenue receipt of Rs 912 crore and an expenditure of Rs 874.76 crore, with a surplus of  Rs 37.23 crore. As expected, the budget contained  a slew of proposals aimed at revenue augmentation.

High-resolution remote sensing GIS to calculate the building tax, strict collection of advertisement tax, categorisation of buildings, municipal bond, value capture financing, professional tax collection and re-examining of present revenue sources are the major moves announced by the corporation. A drainage master plan by associating with other stakeholders is among the proposals.