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Financial Management

Corpn. budget focusses on roads, drains and parks

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The Hindu       12.04.2017  

Corpn. budget focusses on roads, drains and parks

The Corporation’s total revenue is Rs. 5,578 crore  

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.

 

Tiruchi Corporation draws up surplus budget

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The Hindu     07.04.2017

Tiruchi Corporation draws up surplus budget

Total revenue for the fiscal will be Rs. 402.65 crore

The Tiruchi Corporation Budget for 2017-18 projects a surplus of Rs. 98 lakh.

According to the budget estimates, the total revenue for the fiscal will be Rs. 402.65 crore against the expenditure of Rs. 401.67 crore.

The Corporation has proposed to construct two shopping complexes in the city in an attempt to augment its revenue. It has proposed to construct a shopping mall at Travellers Bungalow on Bharathidasan Road.

A sum ofRs. 20 crore will be spent for the project by availing subsidy under the State Innovation Fund.

The proposal said that there was sufficient space at the complex for constructing a spacious complex.

Since it was located close to the Lawsons Road and Reynolds Road, where a number of residential colonies and commercial complexes were located, the proposed shopping complex is expected to generate good revenue.

The second shopping complex will be built at 7th cross in Thillai Nagar. A sum ofRs. 12 crore will be spent for the project with the grant of State Innovation fund.

The Local Planning Authority had already granted project approval for the shopping complex on August 27, 2015.

N. Ravichandran, Commissioner cum Special Officer, told The Hindu that the shopping complexes were aimed at improving financial position of the Corporation. The Travellers Bungalow complex had 76,230 square feet of space.

However, it was under utilised for so long. The Detailed Project Reports for the shopping complexes would be prepared shortly for getting administrative sanction.

Mr. Ravichandran said a sum of Rs. 12 crore had been earmarked for laying of new roads and formation of footpath during the current fiscal. New roads will be laid to the length of 17.68 km. About Rs. 2 crore will be spent on improving and proper maintenance of public parks at Sanjeevi Nagar, Devar Nagar, Diraviyam Pillai Park, Dr. Renganathan Park, Pookkulam Park, Rengasamy Park and Bhagavathipuram Park.

In addition to this, he said that it has been proposed to develop roads to the length of 37.69 km along with storm water facility by availing funds under the Tamil Nadu Urban Road Infrastructure Development Fund during 2017-18.

Under the General Fund, it was proposed to upgrade various roads to the length of 77 km at an estimate of Rs. 10.50 crore.


On the anvil

Corporation to construct a shopping mall at Travellers Bungalow on Bharathidasan Road

Another shopping complex will be built at 7th cross in Thillai Nagar

Rs. 12 crore has been earmarked for laying of new roads and formation of footpath


 

 

Corporation passes ‘secret’ budget citing code of conduct

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The Times of India      28.03.2017 

Corporation passes ‘secret’ budget citing code of conduct

File photo
CHENNAI: The 2017-18 budget for Greater Chennai Corporation has been passed, but it may be a while before we know what is in it. Corporation sources, however, say the budget is bereft of any major new project.

Special officer and corporation commissioner D Karthikeyan passed the fiscal budget, but the civic body is not making the documents public, citing the model code of conduct which has come into force for the RK Nagar byelection. NGO Satta Panchayat Iyakkam on Monday wrote to chief electoral officer Rajesh Lakhoni asking if this reason is valid. The code came into effect on March 9 for the bypoll scheduled on April 12. Sources in the corporation say that the budget was passed on March 14 and that there have been no major announcements and the focus has been only on storm water drains which received more than Rs1,000 crore allocation.

The NGO asked the election office if it was its order to Greater Chennai Corporation to withhold publishing the budget, and if the corporation has sought the election panel's clarification in this regard. "When the state budget can be released to the public, why our city budget can't be publicised. The election is only for one constituency in the city," said SPI general secretary Senthil Arumugam. Out of the 200 wards in the city, RK Nagar constitutes seven wards.

Civic chief D Karthikeyan told TOI that the model code of conduct did not prevent the corporation from passing the budget but that they require permission for making the budget document public. "We need to clarify with the Election Commission of India regarding giving budget details to the press," he said.

Every year, the fiscal budget for the city is passed mid-March by the mayor and his council. Since the AIADMK-led council's term ended in October and councillor elections were suspended, all local bodies were headed by their executive chiefs doubling up as special officers. The latter carries out all functions in the absence of an elected council and mayor. Every department had prepared proposals apart from the routine calculations of expenditure by the end of February. Following this they sat for discussions on projects to be rolled out. "There has been an acute shortage of funds, so there are no new projects in this budget," said a senior civic official said.

Residents say that as long as the budget is made public after the model code is lifted, they won't complain. "We need to know about the funds allocated," said Mythili Ramesh, a resident of Perungudi. "We are not involved in the budget planning stage, we can't be left out after the budget is passed too."
 
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