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 ₹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 ₹5,578 crore and a total expenditure of ₹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 ₹735 crore from various funding agencies. The interest payment on loans has increased from ₹14 crore in 2014-2015 to ₹155.1 crore in 2017-2018.
The budget estimate for capital expenditure in 2017-2018 is ₹2,185.95 crore. Operation and maintenance charges for 2017-2018 will be ₹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 ₹666.52 crore.
ADVERTISEMENT
Stormwater drains would be constructed at an estimated cost of ₹930 crore, bridges at ₹75 crore, streetlights at ₹127 crore, buildings (hospitals/schools) at ₹120 crore and parks at ₹127 crore. The estimated revenue through property tax is ₹800 crore and profession tax is ₹350 crore.
Solid waste management
The civic body has earmarked ₹10 crore for preliminary work on a modern solid waste processing plant in Kodungaiyur. Swachh Bharat projects will be implemented at ₹11.97 crore. The civic body will receive a grant of ₹70 crore for Amma canteens and Amma drinking water projects in various parts of the city.
ADVERTISEMENT
The expenses on salary for employees in 2017-2018 is estimated at ₹971.89 crore. The civic body will pay a pension of ₹ 341 crore.