Finance and Taxation Committee Chairperson R.
Prabhakaran on Thursday presented the AIADMK-led Council’s second budget
that has a deficit of Rs. 20.98 crore.

He said that
the revenue receipts and capital receipts stood at Rs. 808.12 crore and
the revenue expenditure and capital expenditure at Rs. 829.11 crore.
Last year’s deficit was Rs. 27.70 crore.

The
Corporation would make good the deficit by improving the tax collection
and revising rent for its establishments. Mayor S.M. Velusamy later told
reporters that the civic body had revised and fixed the market value as
rent for shops, the rents of which were due for revision. This had led
to an increase in revenue from Rs. 4.50 crore to Rs. 14 crore.

The
civic body had a very high percentage of tax collection, which was
another reason to not worry about the Rs. 20.98 crore deficit.

Mr.
Prabhakaran substantiated this in his budget speech wherein he said
that tax collection had increased from Rs. 104.00 crore to Rs. 115 crore
during 2011-12. At present, 82 per cent tax assessment job was complete
and once the task was completely over, the property tax demand would go
up to Rs. 128 crore. To further increase revenue he introduced a new
tax – name transfer fee. “Every year the Coimbatore Corporation receives
applications for name transfers due to sale of properties,
transactions, execution of wills and transfer of properties to legal
heirs.”

“After such change of ownership of property,
the property tax and vacant land tax assessments undergo name change.
For every such name change, the Coimbatore Corporation will collect Rs.
200 or 0.1 per cent of the property value – whichever is higher as name
transfer fee.”

On the development front, Mr.
Prabhakaran said that the Corporation would have a new record room at
Rs. 75 lakh, a new Thiyagi Kumaran Market at Rs. 2.50 crore, build staff
quarters for sanitary workers, impart skill training for students,
career guidance programme for Class X and Plus Two students and a new
e-learning facility for students at Rs. 1 crore. He also spoke of
upgrading noon meal centres, providing tablet computers to students of
the Corporation’s Special School at R.S. Puram, improving laboratories
at Corporation schools, renovating playgrounds and appointment of a
sports officer to improve sports in schools.