Bengaluru: The Bruhat Bengaluru Mahanagara Palike (BBMP) aims to collect more revenue in 2024-25 through advertisement fees, a higher premium floor area ratio (FAR), and deposits from optic fibre cable operators.
This increase in revenue targets follows the state government's decision to raise the civic body’s budget by Rs 745 crore. While the targets are difficult to achieve, the BBMP made these corrections to accommodate the new allocations.
Ahead of the new financial year, the BBMP presented a budget with a Rs 12,369-crore outlay. The government approved the budget by increasing allocations for solid waste management and grants earmarked for the discretionary use of the Bengaluru development minister, mayor, chief commissioner and others.
Further, Rs 20 crore had been reserved to develop Halasuru lake and another Rs 40 crore to spruce up Russell Market.
To make funding provisions for these new works, the BBMP has estimated to collect Rs 800 crore through the yet-to-be-implemented advertisement policy and another Rs 1,700 crore from premium FAR, which is also not in force yet.
The BBMP revised the budget for 2024-25 at Rs 13,405 crore.
Published 12 May 2024, 20:50 IST