BBMP Budget | ‘Fiscal discipline is guiding principle’

As expected, the Budget — presented during an administrator’s tenure with no council — focused on fiscal discipline, which the civic body termed as “moola mantra” or guiding principle.The Budget annou

As expected, the Budget — presented during an administrator’s tenure with no council — focused on fiscal discipline, which the civic body termed as “moola mantra” or guiding principle. The Budget announced that the job number system will be revamped for all civic works. It also stated that over a period of time, it aims to ensure that liability, such as pending bills as well as bills for ongoing projects, at any point will not exceed 2.5 times the fiscal space available for taking up such work. The cap essentially limits the quantum of work that can be taken up by the civic body, and probably solve the pending bills problem in the long run. “This will make BBMP’s financial management comparable to ULB’s like Brihanmumbai Municipal Corporation,” stated the Budget.