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ISRO short on funds, says Chairman - Page 3
Volume 15 Issue 32
THE
An IIJNM Publication
MONDAY, MARCH 28, 2016
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State bailout for ‘dire’ BBMP
DAILY OBSERVER
Oindrila Sarkar The BBMP admitted today its dire financial conditionduring the presentation of the 2016-17 budget. The total proposed budget of Rs.8994.41 crore gives high priority to infrastructure and welfare. The government has provided Rs.4222.73 crores in financial assistance to BBMP in the state budget for the year 2016-2017. The budget had a 46 per cent increase in government grants since last year. M. Shivaraju, taxation and finance committee chairman, who presented the budget, said, “BBMP is under heavy financial burden and loan liability is also more... Financial management of such a big area is a major challenge and it is evident that the BBMP has failed in managing the finances.” The proposed budget reveals that the BBMP presently owes an amount of Rs.650 crore to different nationalized banks from whom money had been loaned for implementing different development projects. BBMP now plans to take a loan from M/s HUDCO (Housing and Urban Devel-
opment Corporation Ltd.) to repay the loans to the banks. HUDCO is a public sector undertaking and wholly owned by the Union government. The focus this fiscal is on financial reforms as the cash strapped BBMP is trying to overcome both bad loans and public wrath for a steep increase in the property tax. Property taxes on residential and commercial spaces has been increased by 20 per cent and 25 per cent respectively. The reason given for this rise is that the property tax was last increased 15 years ago. Too many bank accounts
were hindering total financial control for which 632 receipts and payments current accounts will be closed down. Replacing them would be 27 savings bank accounts in Canara Bank . The LOC or Line of Credit arrangement of paying to contractors has been abolished in this budget. RTGS- real time gross settlement has been introduced for the payment of bills and all cheque payments have been abolished. The IFMS- Integrated financial management system software has been brought in to impose financial dis-
HCU students granted bail Payal Miyapur court in Hyderabad has granted bail to 27 students and two faculty members from Hyderabad Central University(HCU) who were arrested for allegedly throwing stones and staging violent protest outside the Vice Chancellor P Appa Rao’s residence. The students and faculty were arrested on 24 March, the day Appa Rao had rejoined as a Vice Chancellor. “This bail has given hope to us to fight all the cases that are charged on us including few cases about Rohit Vemula’s suicide,” said Kavya , Genral Secretary of Joint Action Committe for Social Justice(HCU). She added, “We will see that these students are back
on campus by tomorrow and attend their regular classes. “We fought the legal battle and got the bail today. This is our first victory. We will not let things work according to the VC,” said Ayub, a member of the Joint Action Committe for Social Justice. “Students like Prashanth were targeted for no reason and were put behind bars,” he said.
“We will take this struggle forward for a casteless society that we all imagine together,” he added. The bail has been granted under the condition that Rs 5000 per person is paid and all the 27 students should pay a surety of 1,35,00. Also the students and faculty are required to report to the police station every Saturday.
Students protesting inside HCU campus (Credits: JAC, HCU)
cipline. A decision to move officers and staff en masse, from areas where they have been serving for more than three years has been taken. This move, according to the Palike, will bring more efficiency and increase resources The BBMP expects to generate Rs.2400 crores as property tax and the hike will add another Rs.600 crores. Chief Minister, Siddaramaiah had announced a grant of Rs.5000 crores under the theme of ‘Hoodikedaarara Nadige Karunadinedege.’ The BBMP will use this fund for various infrastruc-
ture works in Bengaluru like lake development, solid waste management, construction of storm water drains and various urban infrastructure projects. There are almost 20,000 BBMP and contract pourakarmikas working in the BBMP limit solid waste management. A Rs.10-crore allocation for midday meal proposal means Rs.5000 per worker for free food. . Improving the quality of verbal and spoken English among children in the BBMP schools is the focus this time to bring in competition with the private educational institutions. Free bus passes are also to be provided to BBMP school students for commuting to school by BMTC buses under the Saarige-Shalege for which Rs.1 crore has been reserved. The budget also addresses the garbage problem in the city. The management of 3500 tons of daily garbage is in itself a challenge. There are provisions for the establishment of processing units generating electricity from garbage. The compulsory processing of wet waste at home will be introduced in houses constructed in 60X40 feet and above sites.