The Visakhapatnam Metropolitan Region Development Authority (VMRDA) generated ₹8.46 crore in revenue during the first quarter of this fiscal, while expenditure stood at ₹18.49 crore, chairman D. Srinivasa Rao said on Wednesday.
In comparison, the VMRDA’s earnings stood at ₹26.62 crore while spending stood at ₹32 crore in the first quarter of 2018-19, and for the corresponding period in 2019-20, it earned ₹24.87 crore and spent ₹28.47 crore, he said.
Mr. Srinivasa Rao was reviewing the VMRDA’s financial position in a video-conference and directed authorities to take appropriate steps to strengthen the civic body’s finances in view of the COVID-19 crisis.
“For resource mobilisation and to achieve economic self-sufficiency, as part of immediate steps to boost revenues, all the vacant shopping complexes, open sites and odd-bits are to be auctioned off in accordance with the regulations. The open auditorium at Peda Gantyada should be put to use. Conducting of auction and sale of plots at Dakamarri layout should be done to generate revenue,” he said, asking officials to identify potential areas for the VMRDA to develop developing new layouts, which would boost revenue.
VMRDA Commissioner P. Koteswara Rao, Additional Commissioner Manajir Jilani Samoon, and others attended the video-conference.
