Surplus budget of ₹10.87 crore presented in Thoothukudi Corporation
The Hindu
THOOTHUKUDI Mayor presents a surplus budget of ₹10.87 crore for 2024-2025, with revenue sources and expenses outlined.
Mayor Jegan Periyasamy tabled a ₹10.87-crore surplus budget of the Corporation for the financial year 2024 – 2025 on Wednesday.
Presenting the budget in the Corporation council meeting held here in the presence of Commissioner C. Dinesh Kumar, Mr. Jegan said the urban civic body would get ₹ 42 crore as revenue through property tax and miscellaneous taxes, ₹ 7.10 crore from stamp duty and entertainment tax, ₹ 59 crore from the State Government, ₹ 18 crore from 15th Finance Commission grant and ₹ 26 crore through other revenues.
In all, the Corporation would get ₹ 153.29 crore as revenue during the fiscal 2024 – 2025.
The Corporation would have to spend ₹ 152.75 crore for salary, pension, administrative expenses, maintenance of roads and buildings, operation of vehicles etc.
Another ₹ 52.38 crore would be received as revenue through drinking water tax and other taxes being collected as ‘utility fee’. After spending towards operation and maintenance of drinking water supply systems and other expenses related to the functioning of the Corporation, the urban local body would get ₹ 7.06 crore as surplus fund.
Through the education cess and allied taxes, the Corporation would get ₹ 6.49 crore as revenue and ₹ 3.22 crore would have to be spent for construction and maintenance of school buildings.
“So, the Corporation will get surplus revenue of ₹ 10.87 crore after the projected expenses,” Mr. Jegan said.
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