The Hindu 28.03.2013
Rs. 11.95 crore deficit budget for Tirupur
Chairman of Taxation and Finance Standing Committee in
Tirupur Corporation R. Chandrasekar presented the Corporation’s budget
for the financial year 2013-14 with fiscal deficit projected at Rs.
11.95 crore, at the Corporation council meeting held here on Wednesday.
The budget had estimated the overall income at Rs. 289.28 crore and
expenditure at Rs. 301.24 crore.
The fiscal deficit
projected for 2013-14 had grown by Rs 1.35 crore when compared to the
‘revised estimates’ of 2012-13 mentioned in the budget document. As per
the ‘revised estimates’ for the current fiscal, the fiscal deficit
stands at Rs 10.6 crore.
Interestingly, the budget
for 2013-14 had projected the revenue receipts realisation and revenue
expenditure projections identically at Rs. 129.8 crore which, according
to financial experts and chartered accountants, looks like a ‘strange
calculation’ as the receipts and expenditure never matches ‘exactly’ in
practical. It should be noted that similar calculation had come in the
budget presented by the earlier DMK regime for the 2011-12 fiscal.
In the budget for 2013-14, the ‘revenue fund’ targets under the ‘revenue receipts’ component had been pegged at Rs. 79.77 crore.
The
Corporation administration plans to meet the revenue fund targets under
the revenue receipts through realisation of professional tax projected
at Rs.1.4 crore, property tax pegged at Rs. 21.45 crore, assessed
revenue at Rs. 4.35 crore, State Finance Commission grants at Rs. 42
crore, service charges at Rs. 4.43 crore, subsidies and financial
assistances at Rs. 87.96 lakh and other revenues at Rs 5.25 crore.
The
councillors belonging to Dravida Munnetra Kazhagam and Desiya Murpokku
Dravida Munnetra Kazhagam staged walkouts after their demands for
convening a separate session in the afternoon for discussing the merits
and demerits of the budget were not considered.