Business & Innovation

The Bruhat Bangalore Mahanagara Palike (BBMP) presented its annual budget, the last by the current Council, on March 17th 2015. The total outlay in the 2015-16 Budget is of Rs. 6730 crores. Acknowledging the FINANCIAL situation of the BBMP to be “tight and tough”, Chairman of the Finance and Taxation Committee, V Anand characterised the budget as a realistic one. Instead of initiating new projects, the budget’s main focus would be to see through the ongoing and spilled over works and to cut down on administrative overheads. Total grants of Rs. 2,891 crores are expected from the State Government. The Revised Estimate of State Grants for the year 2014-15 is Rs 1,019 crores. The budget lays strong emphasis on boosting revenue receipts from property tax, service tax on Central and State Government properties, rent from BBMP Markets, SWM Cess and TRADE Licenses. An amount of Rs 415 crores has been allocated towards Solid Waste Management including INVESTMENTS in innovative technologies. Around Rs. 247 crores has been allocated to environment-related works such as development and maintenance of Parks and Lakes as well as Afforestation and Rainwater Harvesting.