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

Author :
Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com