The BBMP Aims to Increase Revenue Targets for 2024-25
In an effort to boost revenue collection, the Bruhat Bengaluru Mahanagara Palike (BBMP) plans to implement higher advertisement fees, premium floor area ratio (FAR), and deposits from optic fibre cable operators for the financial year 2024-25.
Following a budget increase of Rs 745 crore by the state government, the BBMP set ambitious revenue targets to align with the new allocations. The revised budget for the upcoming year stands at Rs 13,405 crore, with funds allocated for solid waste management and development projects at Halasuru Lake and Russell Market.
The BBMP aims to generate Rs 800 crore through an upcoming advertisement policy and Rs 1,700 crore from premium FAR, although both policies have yet to be implemented. These strategic changes reflect the civic body’s commitment to improving infrastructure and public amenities in Bengaluru.
Stay tuned for updates on the BBMP’s progress towards achieving its revenue targets and implementing key development projects in the city.
Published on 12 May 2024, 20:50 IST