Finance Commission chief seeks info on resources

Visakhapatnam: The 4th State Finance Commission Chairman, Prof G Nancharaiah, here on Friday said that the Commission examining the revenues and expenditures of rural and urban civic bodies to prepare a report for strengthening the local bodies.  

Prof Nancharaiah convened a review meeting in the city with the Greater Visakhapatnam Municipal Corporation (GMVC), Narsipatnam and Elamanchili municipalities and enquired about the income sources of the local bodies, total revenues and the expenditure and other burdens on the civic bodies. 

On the occasion, he said the State Finance Commission was set up to strengthen grama panchayats, nagar panchayats, municipalities and municipal corporations. In order to list out the issues and problems of local bodies, the commission is touring across the State and a report will be sent to the government recommending for funds allocation to the local bodies, he added.

The commission would also send a report to the Central government for release of funds against the needs of local bodies from the 15th finance commission. GVMC Additional Commissioner GVVS Murthy explained about the income, expenditure and debts of the corporation. 

He informed to the commission that the non-plan grants and amounts from 2010 are not coming to the exchequer of the corporation. Additional Commissioner (Finance) GVMC explained through power point presentation about the past two fiscal report of the corporation.

Commissioners of Narsipatnam and Elamanchili municipalities were also explained about their income sources, expenditure and financial challenges of their bodies.