The Hindu 12.04.2017
Corpn. budget focusses on roads, drains and parks
Property tax rates unchanged; deficit is Rs. 102.56 crore
The Chennai Corporation on Tuesday released the Budget 2017-2018, which focuses on roads, stormwater drains, parks and streetlights, keeping property tax rates unchanged. The budget deficit in 2017-2018 is Rs. 102.56 crore. The deficit has been rising owing to the challenges in improving revenue from tax collection, a rise in capital expenditure and interest payment on borrowings. Tax rates have not changed since 1998.
According to budget estimates, the civic body would have a total revenue of Rs. 5,578 crore and a total expenditure of Rs. 5,680.56 crore in 2017-2018. Corporation Commissioner D. Karthikeyan released the budget data online on Tuesday as the Model Code of Conduct has been lifted. According to budget estimates for 2017-2018, the Corporation will receive a loan amount of Rs. 735 crore from various funding agencies. The interest payment on loans has increased from Rs. 14 crore in 2014-2015 to Rs. 155.1 crore in 2017-2018.
The budget estimate for capital expenditure in 2017-2018 is Rs. 2,185.95 crore. Operation and maintenance charges for 2017-2018 will be Rs. 801.93 crore because of a large number of road cuts in various parts of the city. After completion of projects by agencies such as Metrowater, roads will be relaid by the Chennai Corporation at Rs. 666.52 crore.
Stormwater drains would be constructed at an estimated cost of Rs. 930 crore, bridges at Rs. 75 crore, streetlights at Rs. 127 crore, buildings (hospitals/schools) at Rs. 120 crore and parks at Rs. 127 crore. The estimated revenue through property tax is Rs. 800 crore and profession tax is Rs. 350 crore.
Solid waste management
The civic body has earmarked Rs. 10 crore for preliminary work on a modern solid waste processing plant in Kodungaiyur. Swachh Bharat projects will be implemented at Rs. 11.97 crore. The civic body will receive a grant of Rs. 70 crore for Amma canteens and Amma drinking water projects in various parts of the city.
The expenses on salary for employees in 2017-2018 is estimated at Rs. 971.89 crore. The civic body will pay a pension of Rs. 341 crore.