Wednesday, August 18, 2010

BBMP economics: No money, so no budget

BBMP economics: No money, so no budget
Bangalore Mirror Bureau

The cash strapped Bangalore Bruhat Mahanagara Palike (BBMP) has been forced to postpone its ambitious budget to September because of severe financial crisis. “We have just Rs 200 crore in our kitty and our budget is about Rs 7,000 crores. We have approached the CM for a financial assistance of about Rs 1,500 crores for the budget. But till anything is finalised we can’t go ahead,” said Mayor S K Nataraj.
The Mayor also accepted that the BBMP has no alternatives to the revenue from the Akrama Sakrama scheme which is still to be implemented. Of the Rs 7,500 crore budget about Rs 4,000 crore is needed to clear outstanding bills.


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