JOIN USThe Bangalore Development Authority has proposed nine infrastructure projects in its budget for the year 2012-13 at a cost of Rs 240.50 crore.
The budget document was uploaded on the Authority’s website on Tuesday, six months after it was approved by the government.
According to the document, the Authority proposes to spend a sum of Rs 2,075 crore on formation of sites and layouts, while expecting a revenue of Rs 1137.41 crore from the sale of sites, the primary source of revenue.
A sum of Rs 1,530 crore has been earmarked for the Nadaprabhu Kempegowda Layout, the highest allocation for formation of layouts, followed by Arkavathy Layout with an allocation of Rs 250 crore.
The Authority has shown close to 50 per cent of its revenue from loans and aid from financial institutions. Under the head of loans and advances for the year 2012-13, the anticipated sum is Rs 2,139.24 crore with the primary financial institutions funding the bulk of infrastructure projects and construction of the EWS quarters
While grandiose plans of spending Rs 4,000 crore and above for this fiscal are made by the BDA, the Authority had dismal expenditure and revenue generation for the year 2011-12.
The revised estimates for the last fiscal shows that the BDA could muster only Rs 40 lakh as its opening balance for this financial year.
The total revenue generated in 2011-12 was Rs 716.59 crore as opposed to the anticipated revenue of Rs 5074.01 crore.
The expenditure was Rs 716.19 crore as compared to its plans of spending Rs 5067.65 crore.