BENGALURU: Development of select roads as business corridors to elevate the commercial significance of Bengaluru city to a global level, revitalising historic markets--K R Market, Russell Market, Johnson Market, and Kalasipalya Market and construction of 'Hiriyara Vadi' (Elders' Abode) were part of the maiden budget of the Bengaluru Central City Corporation (BCCC) presented here on Friday.
Against the demand of Rs 5 crore per ward from the city legislators, BCCC has allotted Rs 2.25 crore per ward.
BCCC presented a total budget of Rs 3,426.60 crore. With the total receipts estimated to reach Rs 3427.34 crore, the Corporation presented the budget with a surplus of Rs 78.65 lakhs.
Presenting the budget in the presence of Greater Bengaluru Authority (GBA) Chief Commissioner Maheshwar Rao, BCCC Commissioner Rajendra Cholan, and Deputy Finance Controller Vijayalakshmi, said that they aim to generate Rs 2,342 crore in revenue, and plan to raise Rs 200 crore through municipal bonds.
"To elevate the commercial significance of the city to a global level, we will develop selected roads as Business Corridors. We will provide state-of-the art infrastructure in these corridors and collect higher premium fees. We will then reinvest these funds into sustainable urban growth and infrastructure development, thereby strengthening the city’s economic resilience," Vijayalakshmi said.
Out of the Rs 90 crore allocation for markets, BCCC will spend Rs 70 crore on the comprehensive redevelopment of Russell Market in Shivajinagar, by prioritising parking facilities and heritage structure preservation and the remaining Rs 20 crore for the development of other markets.
"With an intention to revolutionise urban planning, for the first time, the Corporation have dedicated an Urban Design Cell, comprising an Urban Transport Expert, an Urban Designer, and an Urban Planner. This marks a paradigm shift in how we design, upgrade, and implement roads, public spaces, and traffic systems in Bengaluru", she said.
She said that in collaboration with voluntary organisations and CSR funds, they will build ‘Hiriyara Vadi’-- well-equipped residential complexes for senior citizens who have no one to care for them. Under the scheme, the corporation will provide the land free of cost, while partnered NGOs will take full responsibility for leading and managing these facilities.