Corporation of the City of Panaji passes budget for financial year 2013-14

PANAJI: The Corporation of the City of Panaji (CCP) passed a revenue deficit budget on Thursday. In a stormy meeting, the first since the elections for mayor and deputy mayor were held on April 4, the CCP passed a budget which sees projected income of Rs 29,07,16,500 and expenditure of Rs 29,06,88,400. However, the CCP also has a deficit of Rs 13.38 cr that has been carried over from the previous financial year that translates into the deficit in revenue for the financial year 2013-14.
The budget, presented by Mayor Surendra Furtado, sees hikes in taxes on residential houses as well as trade establishments apart from introduction of several new categories. CCP Commissioner Sanjit Rodrigues said ""the CCP will get additional revenue of Rs 2.4 crs from the increase in tax rates.""
While house taxes will make the biggest contribution of Rs 9 cr to the CCP income, Octroi will bring in Rs 3 cr and construction licenses Rs 2.25 cr. Proposed recovery under special act is expected to get the CCP Rs 4.5 cr while taxes on advertisements and signboards will bring in Rs 1 cr. Trade and occupations taxes are expected to bring in Rs 70 lakhs.
On the expenditure front salaries, pensions, gratuities and PF will see an outgo of Rs 18.5 cr. For repairs and development works, an allocation of Rs 3.53 cr has been made.