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Financial Management

White Paper on Aug. 9, first e-Budget on Aug. 13

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The Hindu     05.08.2021

White Paper on Aug. 9, first e-Budget on Aug. 13

An upgrade: All-in-one desktop personal computers have been installed on the desks of legislators at the makeshift Assembly hall in Kalaivanar Arangam.   | Photo Credit: B. Jothi Ramalingam

The Assembly will witness its first paperless Budget session, with Finance Minister Palanivel Thiaga Rajan set to present the revised Budget for 2020-21 on August 13. Ahead of this, Mr. Rajan will release a White Paper on the State’s finances on August 9.

“The situation is worse than what the previous releases have shown,” Mr. Rajan told The Hindu on Wednesday. “This [White Paper] is something that I was committed to, and I am fulfilling it. I wanted it to be as comprehensive as possible. It is 10 years’ worth of mismanagement. Before we go to the Budget, it is good that the people of the State understand what is the true state of affairs,” he said.

The White Paper, likely to be of 120 pages, will focus on the State’s debt burden and the finances of the Electricity, Local Bodies, Water Resources and Transport Departments, among others.

The Minister said it took a long time to get the data together due to the pandemic. “It is important that what we put out is accurate. I am not saying it is comprehensive. We might need to do a few more things like White Papers on GIM-1 [Global Investors Meet] and GIM-2 and Rule-110 announcements. Right now, it [White Paper] is a limited context on what is the true financial situation of the State,” he said.

He said once the White Paper was put out in the public domain, other questions might arise and more clarifications sought. Based on these, the Chief Minister might want to resolve issues raised when the DMK was in the Opposition, he added.

Paperless Budget

A notification issued by Governor Banwarilal Purohit on Wednesday said the House would be convened at 10 a.m. on August 13. In February, the then Finance Minister, O. Panneerselvam, had presented the interim Budget for the year, ahead of the Assembly election.

The Budget, including the full session with the demand for grants of all departments, will be paperless. The Assembly Secretariat has already installed all-in-one desktop personal computers on the desks of the legislators at the makeshift Assembly hall in Kalaivanar Arangam to facilitate the reading of the Budget as it is presented.

The MLAs will also be provided with a tablet, the Budget papers and the demand for grants books five minutes after the Budget is tabled in the Assembly.

Sources in the Assembly Secretariat told The Hindu that a special software would be used to ensure that the e-Budget proceedings go smoothly. This is being done in coordination with the Information Technology Department, the National Informatics Centre and ELCOT.

“We conducted a drill yesterday [Tuesday] and it worked well,” a source said.

The first agriculture Budget will be presented on August 14, the Additional Chief Secretary, Finance Department, said.

Last Updated on Thursday, 05 August 2021 05:40
 

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


 

 
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