“We are focusing at a debt-free Corporation by 2017-18 and we are on our way to achieve this. We are making timely payment of salary and providing other benefits to the employees and also making timely payment to the contractors,” said Radhey Shyam Sharma, Standing Committee Chairman, South Delhi Municipal Corporation (SDMC) while presenting his speech during the budget finalisation on Friday.
As the Municipal polls are scheduled next year, SDMC is keeping a major chunk of its budget reserved for the unauthorised and regularised colonies. For development work in unauthorised colonies, the civic agency has made a provision to increase the amount from Rs 10 crore to Rs 15 crore.
In addition to this, a special provision of Rs 20 crore has also been made for sanitation purpose. For development work in regularised colonies, the Corporation has increased the budgetary provision from Rs 25 to Rs 30 crore.
The SDMC’s Standing Committee Chairman, Radhey Shyam Sharma, in his budget speech on Friday, said that for financial year 2016-2017, the civic body has increased the budgetary provision for urbanised villages from Rs 30 crore to Rs 35 crore.
The officials in the Corporation informed that the civic body has taken no loan after trifurcation from the Delhi government. Sharma informed that in the last Financial Year 2014-15, the civic agency collected Rs 3,235.05 crore, while it spent Rs 2,637.45 crore, generating a surplus of Rs 358 crore. However, in the current Financial Year (2015-16), the civic agency has estimated a revenue target of Rs 3,316.69 crore.
The officials informed that as per the 3rd Delhi Finance Commission, Rs 1,239 crore Municipal Reform Fund is pending on the Delhi government. However, as per the 4th DFC Rs 3,400 crore Municipal Reform Fund is pending on the city government.
For the upcoming financial year, the SDMC is expecting revenue generation of Rs 4,079.56 crore while, the expenditure is estimated at Rs 4,264.45 crore. The civic agency has no plans to borrow under ways and means of loans and is seeking no loans under plan head from GNCTD.