TEAM HERALD
MARGAO: It is a normal practice to pass and approve budget estimates well before the commencement of a financial year.
Perhaps for the first time in recent years, the Margao Municipal Council will approve its budget estimates for the year 2014-15 after the commencement of the financial year. Friday saw the Standing Committee of the Civic body headed by Chairperson Dayanand Deulkar adopting the budget estimates prepared by the municipal administration. The Budget estimates will now be placed before the Council meeting, which is likely to take place after the Lok Sabha poll.
Civic officials said the Municipality as usual prepared a surplus budget, with receipts pegged at a whopping Rs 59 crore and expenditure Rs 57 crore, a suplus of Rs two crore.
MMC Chairperson Dayanand Deulkar conceded that there was a delay in passing the annual budget, but attributed the delay to the election code of conduct. “Immediately, the Municipality had sought permission from the Election authorities to hold the meeting to pass the budget. Today, we had our Standing committee meeting as per EC permission, wherein we have passed the budget estimates,” Deulkar added.
