Mayor presents ₹1.53 crore deficit budget for 2024-25
The Hindu
SALEM Mayor presents ₹1.53 crore deficit budget for 2024-25, focusing on revenue sources and infrastructure development.
Mayor A. Ramachandran on Wednesday presented a ₹1.53 crore deficit budget for the financial year 2024–25. The total value of the estimated revenue receipts and capital receipts is ₹901.85 crore while the estimated expenditure stood at ₹903.38 crore.
Presenting the budget in the presence of Corporation Commissioner S. Balachander, Deputy Mayor M. Saradha Devi, councillors and officials, the Mayor said the revenue deficit would be met by increasing revenue sources and availing additional funds from the government. He listed out various schemes completed in the past year and also various schemes that were being implemented currently. Expected property tax for the year stood at ₹126.50 crore, professional tax at ₹15 crore and water tax at ₹34 crore. “We expect an increase in revenue through rent from commercial complexes, multiple-car parking lots and sports auditoriums,” he said and added that estimated revenue is ₹24.39 crore.
Making new announcements, Mr. Ramachandran said storm water drains would come up in flood-prone areas at a total cost of ₹65 crore while the Ismail Khan Lake would be renovated at ₹41 crore. Additional buildings would be constructed at the animal birth control centre at ₹2 crore while corporation schools would be modernised at ₹20 crore. “The commercial complex at Sandaipettai would be demolished and a new complex would be constructed,” he said.
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