Published On : Wed, Feb 27th, 2019

Rs 100 crore for musical light and laser show at Futala Lake

Rs 522 crore NIT budget for 2019-20 presented by Chairperson Sheetal Ugale

Futala

Nagpur: The Chairperson of Nagpur Improvement Trust Sheetal Ugale on Tuesday presented NIT’s budget expecting income of Rs 522 crore in financial year 2019-2020. Presenting budget before the Board of Trustees on Tuesday, Ugale proposed to allocate Rs 100 crore for musical light and laser multi-media show at Futala lake. She has also allocated Rs 90 crore for salary hike proposed by 7th Pay Commission to the employees of the NIT.

Present on the occasion include Trustees at NIT Virendra Kukreja and Bhushan Shingane, Commissioner of Nagpur Municipal Corporation (NMC) Abhijit Bangar and other officials. In the meeting, Chairperson Ugale also presented revised budget of Rs 415.84 crore for financial year 2018-2019. Last year, NIT had proposed a budget of Rs 612 crore. Ugale had reduced the previous budget by aroundRs200crore.

During last financial year, the NIT had spent Rs 255 crore on capital expenditure while Rs 110 crore was spent on revenue expenditure and a sum of Rs 49.79 crore was spent on advances and deposits. In the proposed budget, NIT Chairperson has expected income of Rs 341 crore from capital, Rs 119 crore from revenue side and Rs 57.83 crore from advances and deposits. The new budget also reduced outlay by Rs 100 crore as compared to last budget. Ugale has proposed capital expenditure of Rs 320 crore,revenue expenditure of Rs 136 crore and Rs 64.79 crore for advances and deposits in the proposed budget.

Giving details of budget in the meeting, Ugale said, the NIT is expecting income of Rs 28 crore from undeveloped layouts while Rs 60 crore will be recovered from ground rent of plots and shops. She is also expecting Rs 25 crore from development funds. NIT will get Rs 76.43 crore from various schemes of the Government including Rs 50 crore for development of play grounds in the city. The Trust is expecting income of Rs 5 crore from PPP projects. NIT will get Rs 20 crore from stamps duty, Rs 12 crore from ground rent, Rs 20 crore from premium charges of building sanction plan and Rs 20 crore from other revenue deposits.

NIT will spend Rs 18 crore on development work of undeveloped layouts. It will also spend Rs 38 crore on construction of roads and payment of dues. Ugale has proposed Rs 3.5 crore on plantation and beautification work while Rs 29 crore have been earmarked for various developmental works. NIT has proposed allocation of Rs 50 crore for integrated development of sports grounds, Rs 20 crore for Dalit Areas Development scheme, Rs 10 crore for Harpur Sports Complex and Rs 5 crore for construction of E-library. NIT will spend Rs 10 crore on construction of Indrayani Handloom building.