CHENNAI: The Greater Chennai Corporation’s budget estimate for the first time exceeded Rs 5,000 crore for the first time as the Mayor announced a slew of projects.
As per the budget estimate for 2016-17, the Corporation has come out with a budget with total estimated expenditure of Rs 5,123.51 crore.
Unlike previous years, the budget also had a comparatively higher deficit of Rs 104.21 crore.
Last year, the deficit was merely Rs 1.2 crore. Last year, the total budget expenditure was Rs 4,632.18 crore and the revenue Rs 4630.98 crore.
This year, Chennai Corporation has set a target of Rs 650 crore as property tax, compared to last year’s Rs 600 crore. The expenditure this year is more on stormwater drains, buildings, Health Department and Family Welfare Department.
The Chennai Corporation has also earmarked Rs 130 crore for special projects including Marina beautification work, roadworks and concrete roads in the interior areas, etc.
Similarly, parks are to be allocated Rs 61.05 crore. Interestingly, Chennai Corporation has allocated 30.33 acres for setting up a massive park in a village near Madambakkam. Meanwhile, the Corporation is planning to streamline property tax charges for the expanded areas of Corporation where the residents are still paying the older and steeper municipality property tax rates.