Chairman of Taxation and Finance Standing Committee in Tirupur Corporation M. Kannappan presented the budget for 2015-16 financial year on Monday with the fiscal deficit pegged at Rs. 18.47 crore.
Tabling the budget before the Corporation council at the special meeting on the day, he said that the overall revenue expected during the 2015-16 fiscal was estimated at Rs. 566.81 crore with revenue receipts realisation calculated at Rs. 196.58 crore and capital receipts, which include loans and other advances, projected at Rs. 370.22 crore.
The budget had projected the overall expenditure for the 2015-16 fiscal at Rs. 585.28 crore with the revenue expenditure estimated at Rs. 195.68 crore and capital expenditure at Rs. 389.6 crore.
Councillors belonging to CPI (M), CPI, DMK and DMDK alleged that most of the new projects announced for 2015-16 fiscal were only repetitions of what mentioned during the budget presentations on previous two fiscal. Terming that the budget an eyewash, the DMK councillors returned the copies of the budget documents given to them and walked out of the meeting.
M. Subramaniam of DMK, K. Marappan of CPI (M), S. Ravichandran of CPI and A. Govindaraj of DMDK were equally critical of the administration for not executing many projects announced in the previous budgets.
Mayor Visalakshi Appukutty said that the administration would focus on improvement of roads, street lighting and improving infrastructure in Corporation schools, among other initiatives in 2015-16 fiscal.