Civic administration projects revenue of Rs. 722.13 crore
SALEM: Mayor J. Rekha Priyadarshini presented a deficit budget for 2007-08 in the special meeting of the Salem Corporation Council here on Tuesday.
In her one-and-half-hour budget speech, the Mayor said that the civic administration projected a revenue of Rs. 722.13 crore against an estimated expenditure of Rs. 726.95 crore in the coming financial year thus leaving a deficit of Rs. 4.82 crore, which was Rs. 23 lakh higher than the last year's Rs. 4.59 crore deficit.
The Corporation was expecting revenue receipts of Rs. 100 crore, while the revenue expenditure was pegged at Rs. 92.54 crore.
The civic body would receive Rs. 622.13 crore as revenue from the capital account and had planned a capital outlay of Rs. 634.41 crore for various infrastructure development works, she said.
The Mayor said that the civic body would initiate measures to improve its revenue sources and get more financial assistance from the Government to overcome the deficit.
The projected capital outlay had gone up to Rs. 634.41 crore as the Corporation had planned to begin its ambitious programmes, Phase-II of Tirumanimutharu river project, under ground drainage scheme, dedicated water supply scheme and integrated housing and slum development programme in the coming financial year.
Tax collections stood at Rs. 8.64 crore as on December 2006, which was Rs. 74.93 lakh less when compared to the corresponding period in the previous financial year.
Corporation Commissioner A.M. Selvam, Deputy Mayor C. Paneerselvam, City Engineer R. Vijayakumar and senior officials were present.