SHILLONG: KHADC Chief Executive Member Ardent Miller Basaiawmoit on Monday presented a deficit budget of Rs 45,890 for the current fiscal year 2014-2015.
Presenting the budget on the first day of the Council’s re-assembled budget session here on Monday Basaiawmoit said the total expenditure estimated is Rs. 1,04,38,26,090 while the Council’s earnings is expected to be Rs. 1,04,37,80,200.
“There shall be a deficit of Rs. 45,890 in this fiscal year,” the KHADC CEM, who is also in charge of Finance department, said.
He appealed to the various department of the Council to minimize their expenditure so as to improve the financial position of the Council.
Basaiawmoit said that a major chunk of the Council’s revenue is spent in payment of salaries of the staff.
The KHADC CEM informed that the Council earns its revenue through issue of trading license, royalty from minerals, share from motor vehicle taxes, taxes on profession and other sources.
It is worth mentioning that in March last the KHADC had presented a vote on account (interim budget) of Rs. 15.24 crore for three months from April 1, 2014 to June 30, 2014 since the full budget allocation for 2014-1015 could not be calculated.
