GVMC Standing Committee approves annual budget for 2026-27

The Standing Committee of the Greater Visakhapatnam Municipal Corporation(GVMC) approved the Revised Budget Estimates for 2025–26 and the Budget Estimates for 2026–27, during a meeting on Monday informed GVMC Standing Committee chairperson Peela Srinivasa Rao.

The meeting held at the GVMC Head Office, deliberated on the annual budget for 2026–27 and approved it.

Speaking on the occasion, Mr. Peela Srinivasa Rao explained that as per the annual budget estimates, the opening balance stands at ₹36,596.57 lakh, receipts under all heads amount to ₹3,81,441 lakh, making the total receipts including the opening balance ₹4,18,037.57 lakh. The expenditure under all heads is estimated to be ₹4,04,712 lakh, and the closing balance is projected at ₹13,325.57 lakh.

He further said that the Examiner of Accounts, GVMC, C. Vasudeva Reddy, presented a comprehensive estimated budget with detailed allocations for all departments for 2026–27 to the Standing Committee.

The meeting was attended by Standing Committee Members, additional commissioners P. M. Satyaveni, D. V. Ramana Murthy, S. S. Varma, P. Nallanayya, chief engineer Satyanarayana Raju, chief medical officer Dr. E. N. V. Naresh Kumar, DCR S. Srinivasa Rao, superintending engineers, accounts officer V. Narayana Rao, and other officials.