Budget 2024-25
Based on the information provided, the budget summary report for the financial year 2024-2025 of Akalakkunnam Grama Panchayat in Kottayam district is given below.
This budget has been approved as per the decision no. 3 of the Standing Committee on Finance dated 24-01-2024 and as per the decision of the Panchayat Administrative Committee dated 05-02-2024.
Akalakkunnam Grama Panchayat - Budget Summary (2024-25)
1. Total Income Summary
The major income expected by the Panchayat for the financial year 2024-25 is as follows:
A. Opening Balance: ₹64,63,965
B. Tax Revenue: ₹1,15,00,000 (out of which ₹90,00,000 is expected as property tax and ₹25,00,000 as employment tax).
C. Non-Tax Revenue: ₹64,98,000
D. Total Own Fund (B+C): ₹1,80,98,000
E. General Purpose Fund: ₹1,37,13,000
G. Other Revenue Grants (for project expenditure): ₹5,81,14,000
H. Other Revenue Grants (for non-project expenditure): ₹5,50,00,000
I. Total Revenue Income: ₹14,49,25,000
L. Total Capital Income: ₹93,90,300 (including ₹50,00,000 through loan).
N. Total Income + Net Opening Balance: ₹16,07,79,265
2. Total Expenditure Summary
The total expenditure allocated by the Panchayat for various purposes is given below:
O. Revenue Expenditure (for essential duties): ₹2,00,63,200Employee Salary and Other Benefits (Establishment Expenses): ₹2,04,20,000
Administrative Expenditures: ₹25,47,200
Operations & Maintenance Expenditures: ₹44,11,000 (including drinking water schemes, road maintenance and electricity).
P. Plan Expenditure from Revenue Grant: ₹6,55,45,400
Q. Non-Plan Expenditure from Revenue Grant: ₹5,50,00,000
R. Total Revenue Expenditure: ₹14,06,28,500
U. Total Capital Expenditure: ₹45,51,000 (including loan repayment).
V. Total Expenditure (R+U): ₹15,34,29,600
3. Budget Surplus / Closing Balance
W. Closing Balance (N-V): ₹73,49,665
Development Funds and Grants (Plan Grants - Major Items)
Amounts expected from various sources for implementation of the projects:
Development Fund (General Category - Revenue): ₹1,84,03,000
Development Fund (Scheduled Caste Component Plan - SCSP): ₹25,00,000
World Bank Financing (KLGSDP): ₹77,51,000
Non-Road Asset Maintenance Cost: ₹64,85,000
Road Asset Maintenance Cost: ₹59,75,000
Grants for Centrally Sponsored Projects: ₹28,50,000
Budget Evaluation
Revenue Increase: The budget projects a significant increase in the Panchayat's Own Fund to ₹1,80,98,000 compared to previous years (2022-23 Actual: ₹66.66 lakh, 2023-24 Revised: ₹98.42 lakh). This is mainly due to the increase in property tax (₹90 lakh).
Priority for Projects: Development activities have been given great importance in the budget with an allocation of ₹6.55 crore from the Revenue Grant for project expenditure.
Fiscal Sustainability: With a total income of ₹16.07 crore and expenditure of ₹15.34 crore, it has been possible to maintain a surplus of ₹73,49,665. This shows the excellent financial planning of the panchayat.