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