Non-payment of taxes blamed for budget deficit

Non-payment of taxes blamed for budget deficit

- EXPRESS NEWS SERVICE @Tiruchy

WHILE projecting a fiscal deficit of ₹128.95 crore, the Tiruchy corporation budget for financial year 2025-26 tabled on Wednesday earmarked major allocations for strengthening canal banks and improving storm water drains in the city, the reconstruction of the Gandhi Market building, and installation of a solar power plant in Panjappur, among others.

Delivering the keynote address ahead of the commencement of the session, Corporation Mayor Mu Anbalagan said that the budget focuses on improving basic infrastructure in the city. He also clarified that the corporation has no plans to shift all of Gandhi Market's traders to Panjappur. Further he stressed that the upcoming market in Panjappur is for wholesale traders.

Taxation-Finance Committee chairperson T Muthuselvam then tabled the budget for 2025-26. According to the budget, the expected revenue for 2025-26 is ₹1,308.16 crore, while the expected expenditure is ₹1,437.11 crore, leaving the civic body with a projected deficit of ₹128.95 crore.

In the education sector, the expected revenue is ₹25.30 crore while the expected expenditure is ₹17.44 crore, netting a projected surplus of ₹7.86 crore.