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BMC Annual Budget 2016-17
- by Webdesk
- 01 Feb 2016
With the annual budget to be presented for the financial year 2016-17 on Wednesday by BMC chief Ajoy Mehta and elections to be held in February next year, there will be likely no new tax introduction in the budget
The total budget estimate for 2015-16 is Rs 33,514 crore which is 27 per cent higher than last year’s budget. Civic officials hinted that the budget estimate for the next financial year would be 20 per cent higher. This would be the last budget for the civic body since elections are likely to be held in February next year.
For the current fiscal, BMC is expecting Rs 4,900 crore from property tax. Octroi, property tax and development charges are the major sources of revenue of the civic body which gets over Rs 15,000 crore revenue from it. Officials added that the civic body is expecting a revenue of Rs 6,650 crore for the current financial year as per revised estimates.
Till January 28, the total collection of Octroi was Rs 5,174 crore-6% less than last year’s collection of Rs 5,548 crore during the same period.The revenue has been hit because of fall in prices of crude oil.
Image Courtesy: BMC election results 2022
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