CHENNAI: Of the Rs 6,384 crore revenue estimated in the Greater Chennai Corporation’s budget estimates, as much as Rs 1,292 crore would be coming from tax revenue while Rs 670 crore will be from the government allocations and compensations.
In 2021-2022, the civic body had estimated a total expenditure of Rs 6,466 crore against the revenue of Rs 5,911 crore. Sarbajaya Das, chairman of the standing committee (taxation and finance) presented the budget estimates at the Council.
The civic body will spend Rs 1,836.84 crore on salaries and pensions for employees, while administration expenses will be Rs 121.30 crore. The civic body will pay Rs 148.40 crore as interest on loans.
Of the Chennai Corporation departments, the storm water drains department has been allocated Rs 1,235 crore, which is the highest allocation among the departments. Solid waste management and bridges departments will get Rs 424.01 crore and Rs 221.30 crore respectively.
Gagandeep Singh Bedi, Chennai Corporation Commissioner, told reporters that Rs 778 crore was collected as property tax in 2021-2022 as against Rs 471 crore in 2020-2021.
When asked about the deficit, Bedi expressed optimism that the new property tax hike will increase the revenue. “If we collect the property tax as per the hike and spend scientifically, the gap between revenue and expenditure will get narrow,” he added.
As per the data tabled in the state assembly on Thursday, the civic body has an outstanding loan amount of Rs 2,591 crore, including a Rs 550 crore overdraft drawn from the State Bank of India. The civic body has pending contractor payments of Rs 279.43 crore and Rs 373.51 crore payable to various government agencies.
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