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Indian of the Year K7’s Entrepreneurial Odyssey Ennore Port excels Hawker’s paradise gets a permanent place Reality Check Nilam threatens the city The worst is yet to come Kollywood’s Mahabharatha Is Chennai now the accident capital? Coimbatore backs up for Chennai Pocket Therapist finds mention in Forbes Chevrolet Sail U-VA Launched Overflowing garbage Read before you buy... A skinny affair Chennai, the noisiest city Metro chugs through the city Book your water tanker Technologists to rescue Aviation sector to grow three times... It is not only your noodle... Arnold visits Chennai Prithika Yashini takes charge... When Chennai became Venice The auto gets a remake Chennai Silks in flames Apollo targets a third of CV tyre market Two friends trigger a change I know nothing else but cinema... It’s so cool! India’s first online-only bicycle brand From trash land to tourist spot He made Ranganathan Street so crowded... Missing, but not missing the top spot Chennai soon to get an Aerospace Park Sathyabhamasat propels ahead State VAT leads to inflation: a study Star studded city City Corner Realty bytes Chennai airport to become solar-powered CMRL takes off till airport City Corner Chennaites lose 7 crore to debit card frauds The curious case of Evgenii Berdnikov Boozing and driving Paranjoy on crony capitalism When Marina became the Tahrir Square Need for an integrated approach to medicine 377 yet young Medical miracle! Chennai Metro looking for revival Colourful welcome at the Saidapet station Yes, you are safe! Vanakkam Chennaiyin FC A feast for book worms Chennai teachers rank low City Corner-June This dabba has a cure for all your ailments Google street view’s India competitor City Corner - Chennai Tamil Nadu Premier League launched Metro chugs the green way How to roast 45 human beings alive Maruti Suzuki wins NIQR award Metro mania Indian media-operators of democracy Water wars begin Online approval of layout plans SGRI – a global research centre for building materials Green energy, not really green? Perplexing communications Bewailing monsoons the new fad A new technique to treat dry sewage Talk your way and land in a job The sweet tooth of the city Planning the right energy TTV stumps all Safe Trac-keeps track on your safety Chennai gets its Imax A praiseworthy peer recognition Car-free Bessy Outlays and outcome – the long gap Hey Chitti! please take my order Thrills for the holiday season Presto! Bravo! Engineering colleges lose lustre Working space for women by woman Must visit of 2014 A budget that butted into deficit The sunshine and the shadow side of this digital era Education a cause of concern Chennai to Bengaluru as quick as pizza delivery Yamaha in the news Mexico opens Consulate in Chennai Cricket comes calling to Chennai Water woes Black outs will be knocked out North Chennai booms When the crowd will miss the roar The sweet killer Technology handshakes with sanitation An industry institution link… 60 years of cultural and economic ties International conference on saving energy, environment A sweet marketing splash by Pattappas Murugappas-focus on consolidation Building highs and lows The 20-year itch of Hindujas ends Self-sufficiency in dredging... Frontier Mediville attracts Japanese investments Million landmark and Rs. 200 crore influx by Yamaha Know the start-ups in the city Doing business is not so easy in Chennai India’s first 3D Museum Force Motors’ two new SUVs The underground don zips through Keep in touch, anytime anywhere Tambaram tracks…. Meters return to the metro Raj Bhavan opened the gates for public
 
A budget that butted into deficit

Chennai is becoming big; its budget and deficits become bigger. The Chennai Corporation Mayor, Saidai Duraisamy presented the annual budget that estimated the deficits to skyrocket from just Rs 1.2 crore last year to Rs 104.21 crore this year.

So wondering about what happened to the pedestrian zones, cycle lane, parks, rain water harvesting and several solar energy projects?  It is just one among the more than half of the 132 projects announced last year that still stand incomplete!

With elections ahead, the government has not revised property taxes and this has taken a toll on the revenues of the local body. With an estimated revenue of Rs 5019 crore, the Corporation borrows from several agencies: Rs 50 crore from TUFIDCO, Rs 350 crore from TUFIDCO-MIDF, Rs 100 crore from TNUDF-KfW, Rs 100 crore from HUDCO, Rs 250 crore from the World Bank, Rs 250 crore from ICICI Bank and Rs 300 crore from Indian Bank. This has shot up the loan component to Rs 1020 crore from Rs 546 crore last year. Coupled with this is the interest to be paid on loans of Rs 138.15 crore. This budget has seen a cut in capital expenditure.

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