KOCHI: Despite Kochi corporation budget for 2019-20 foreseeing an additional revenue of Rs 62 crore during the fiscal, authorities haven't introduced any new projects for mopping up the sum.They pin hope on proposals suggested in the past three budgets such as value capture funding (VCF), collection of surcharge for public sector undertakings (PSUs) in the city, introduction of property taxes for private firms on Cochin Port Trust (CPT) premises and municipal bonds.Unfortunately, none of these revenue generation proposals have been materialized so far. Still, the local body would be depending on the same proposals for generating additional revenue.Meanwhile, all the costs including that of salary, operation and maintenance, share for various centrally-sponsored projects have increased significantly."We are not introducing any proposals or taxes for revenue generation, rather we would focus on reaping benefits from the proposals we announced in the past three-and-a-half years," said deputy mayor T J Vinod."Proposals like VCF and municipal bonds could not be introduced overnight. We have entrusted a Union government-empanelled agency for preparing a detailed project report (DPR). They have completed preparation of DPR and we would be placing it for the corporation council's approval soon," said Vinod.Vinod had promised in the budgets for 2016-17, 2017-18 and 2018-19 that funds would be generated through VCF (the project was in different names in each budget) and municipal bonds, during the period of each fiscal."The estimated revenue for 2017-18 was Rs 401 crore but the actual revenue received was Rs 313 crore," said councillor from Konthuruthy C K Peter.

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