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Monday, December 06, 2021

Pune: PMC posts revenue collection of Rs 3,190 cr, capital expenditure of Rs 258 cr in first half of ’21-22

The maximum revenue of Rs 1,069.95 crore had come in the form of Goods and Service Tax (GST) followed by Rs 892.82 crore from property tax and Rs 744.66 crore from building permission and development charges.

Written by Ajay Jadhav | Pune |
November 16, 2021 3:59:35 am
The civic body had a spending of Rs 1,420.78 crore as revenue expenditure and only Rs 258.29 crore as capital expenditure. (File)

The Pune Municipal Corporation (PMC) has managed to get revenue of Rs 3,190 crore in the first half of the financial year, as against its estimated annual target of Rs 8,370 crore. However, it has been able to have capital expenditure of only Rs 258 crore while most of its expenditure has been in the form of revenue expenditure to the tune of Rs 1,420 crore till September-end.

The PMC, through an independent auditor, carried out review of unaudited financial results for the first six months of financial year 2021-22, from April 1 to September 30, so as to be submitted to the Securities and Exchange Board of India (SEBI) as a commitment of doing the annual credit rating while it floated municipal bonds for its 24×7 water supply project. The same was tabled in the civic standing committee last week.

As per the data made available to the auditor, the PMC stated that it has had a revenue income of Rs 3,190.52 crore till September 30 this year. The maximum revenue of Rs 1,069.95 crore had come in the form of Goods and Service Tax (GST) followed by Rs 892.82 crore from property tax and Rs 744.66 crore from building permission and development charges.

The civic body had a spending of Rs 1,420.78 crore as revenue expenditure and only Rs 258.29 crore as capital expenditure. Maximum of Rs 56.64 crore from the total capital expenditure done in the first six months has been on water supply projects followed by Rs 41.34 crore on road development project and Rs 29.94 crore on Pradhan Mantri Awas Yojana (PMAY). There has been no spending on Swach Bharat Abhiyan and slum development even as PMC spent only Rs 3 lakh on disability welfare scheme, Rs 1.39 crore on youth welfare scheme, Rs 1.88 crore on mother and child welfare scheme and Rs 2.71 crore on backward class welfare scheme.

“The reason for less expenditure in the first half of the financial year is because the projects are in a tender process and actual expenditure begins later on. The revenue collection is the maximum in the first half of any financial year and expenditure is low during the same period. It becomes exactly opposite in the second half of the financial year with revenue collection becoming lesser than the expenditure,” said Kunal Mandwale, deputy chief accountant of PMC.

In the revenue expenditure, the PMC has spent Rs 743.73 crore on salary and pension of its employees while paying Rs 124.55 crore to power utility as electricity charges of its all civic properties, Rs 61.59 crore as medicines at civic hospitals and reimbursement to employees and elected representatives. It had to shell out Rs 27.89 crore to pay in water charges to the state water resource department.

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