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