VISAKHAPATNAM: The Greater Visakhapatnam Municipal Corporation (GVMC) on Wednesday approved its Rs 4,047.12-crore budget for the financial year 2026-27 during a special council meeting held at the GVMC headquarters. The meeting witnessed discussions and exchanges between ruling and opposition corporators.
The session was presided over by Mayor Peela Srinivasa Rao in the presence of GVMC Commissioner Ketan Garg.
The Mayor presented the budget speech, after which Examiner Vasudeva Reddy explained the financial estimates. According to the budget details, the corporation recorded an opening balance of Rs 365.96 crore and projected revenues of Rs 4,180.37 crore, with a closing balance estimated at Rs 133.25 crore.
The total receipts, including all accounts, were reported at Rs 3,814.41 crore.
Corporators observed that this would be the final budget meeting of the present governing body, as its term is set to conclude next month.
Members also recalled that at the time of GVMC’s formation, the municipal budget was approximately Rs 3 crore and has now increased significantly, crossing Rs 4,000 crore.
YSR Congress Party (YSRCP) corporators expressed concerns over what they described as reduced allocations compared to previous administrations.
However, they supported the budget citing the need to continue developmental works.
Corporator Kaki Govinda Reddy raised concerns regarding caste-based allocations, while MLA Vishnu Kumar Raju alleged that the North Assembly constituency had not received adequate attention.
Corporators belonging to the NDA coalition responded by asking for comparisons with allocations made during the previous YSRCP administration. Corporator Bhesetti Vasantha Lakshmi called for equitable distribution of funds across all 98 wards.
Corporators Stalin and Gangaram stressed the need for increased financial support from both the Central and State governments.
The issue of corporators’ honorarium was also discussed during the meeting.
MLA Vishnu Kumar Raju criticised the current monthly honorarium of Rs 6,000 paid to corporators. Responding to the concern, Mayor Peela Srinivasa Rao announced that a proposal had been made to increase the honorarium to Rs 12,000 per month, subject to approval. While Rs 1 crore was spent on honorariums last year.