Greater Chennai Corporation budget for FY 24-25 presented presented at Ripon Building
The corporation's revenue for the upcoming fiscal year 2024-25 is projected to be Rs 4,464.60 crore while expenditure will be Rs 4727.12 crore.
Mayor Priya Along with Chennai Corporation Commissioner Radhakrishnan with the GCC Budget. (Justin George)
CHENNAI: The Greater Chennai Corporation (GCC) presented the budget for the financial year 2024 – 2025 at the Ripon Building on Wednesday. The fiscal deficit decreased to Rs 263 crores from Rs 377 crores from the current financial year 2023-24.
The corporation's revenue for the upcoming fiscal year 2024-25 is projected to be Rs 4,464.60 crore while expenditure will be Rs 4727.12 crore.
In the present fiscal year 2023 - 2024, the revenue was projected at Rs 4,131.70 crores and expenditure was Rs 4508.30 crores with a deficit of Rs 377 crores. The revenue from capital is expected to be Rs 3,455 crores and expenditure at Rs 3,140.58 crores. The civic body will have Rs 315 crore surplus, as per the financial report presented by Sarbajaya Das, chairperson, Standing Committee (taxation and finance).
The revised property tax estimate for the financial year 2023-2024 has been fixed at Rs 1,680 crore. In the upcoming year, it is expected to be Rs1,750 crore.
Similarly, the revised amount of professional tax is Rs 500 crore whereas the tax is expected to Rs 550 crore in 2024-25.
The highest fund allocation is for storm water drain construction, at an estimated cost of Rs 1,321 crore for the fiscal year 2024-25.
The work will be carried out in Kosasthailayar River by using Asia Development Bank funds, and under German Bank (KfW), Singara Chennai 2.0 construction work will be taken in Kovalam Basin. In the present fiscal year, Rs 1,971 crore was allocated for SWD for the long-pending project of two river basins.
A total cost of Rs 390 crore has been allotted for relaying damaged roads across the city under Singara Chennai 2.0 and Urban Road Development plan.
Similarly, for litter-free city and solid waste management, the civic body allocated an estimated fund of Rs 210 crore for the coming fiscal year. GCC allotted funds for buildings, education, health, parks, and playgrounds.
The developmental fund for mayor and ward councilors has been increased from Rs 2 crore to Rs 3 crore and Rs 40 lakh to Rs 45 lakh respectively for the financial year 2024-25.
In addition, to promote paperless works among the ward members, the civic body is to provide tabs for all the councilors at an estimated cost of Rs 1 crore.
