The Vijayawada Municipal Corporation council has presented a deficit budget of ₹1,114.93 crore for the financial year 2022-23. It is the lowest budget in at least the last seven budgets adopted by the civic body, which is short by ₹52.58 crore going by the estimated expenditure and income.
As per the budget presented in the special budget general body meeting held in the VMC council hall on Saturday, the estimated expenditure for the coming financial year 2022-23 is ₹1,114.93 crore, including ₹437.47 crore capital expenses. The revenue expense is ₹596.21 crore and a major part of it goes to staff expenses and operational expenses.
The civic body expects an estimated income of ₹1,062.35 crore, including ₹691.05 crore revenue income and ₹308.17 crore capital income. The estimated expenditure is ₹52.58 crore less than the estimated income.
