Status: Not ApprovedHEAD: 24_Koc_SMTC_Cleared leadByline: T C SreemolUdf budget turns to bonds to make up for shrinking surplusUDF’s first budget turns to bonds to make up for shrinking surplusStrap: Promises climate resilience, scientific waste managementTNNKochi: The newly elected UDF council on Tuesday presented its maiden budget for the Kochi corporation for the financial year 2026-27, pitching an ambitious road map anchored in municipal bonds, infrastructure expansion, climate change-related mitigation measures as the city was seeing frequent flooding, and scientific waste management.The budget projects an estimated expenditure of Rs 1255 cr against a revenue of Rs 1388 cr, leaving a surplus of Rs 132 cr. This surplus marks a sharp dip compared to previous years.Deputy Mayor and finance standing committee chairman Deepak Joy, who presented the budget, said the decline in surplus was because no central grant was allowed for the corporation under the 16th finance commission report. “Kochi corporation is deprived of Rs 124 cr as no central grant is allowed under the 16th finance commission. That is why we estimated the decline in surplus for the next fiscal. But in the budget we proposed raising capital for various projects by issuing bonds,” he said.Joy presented the budget amid sloganeering and a sit-in protest by opposition councillors over an alleged leak of budget details. The Opposition filed a complaint with the corporation secretary in the morning, alleging a leak and demanding that the budget presentation be postponed. However, the ruling party denied it.Besides proposing steps for raising capital by issuing bonds, the budget proposed the constitution of a Greater Kochi development council comprising chairpersons in nearby municipalities, Presidents and members in adjacent panchayats. It also put forward a development policy for the city, eyeing developments over the next 25 years.The budget suggested preparing masterplans for the facelift of local areas, including the Vytilla-Palluruthy area, Palluruthy-Edakochi, and Fort Kochi, by integrating various transport modes. A mobility hub was proposed at Ernakulam boat jetty.Meanwhile, Rs 5 cr was earmarked in the budget for infrastructure development and beautification works in Panampilly Nagar and South Panampilly Nagar. A comprehensive development plan for the area will include mitigation measures for flooding issues in Panampilly Nagar.As the city was reeling under a mosquito menace, one of the proposals was to use GPS mapping and drone monitoring to identify the breeding sources.The opposition said many proposals in the budget for the next fiscal were announced in the previous budgets. V A Sreejith, opposition councillor, poo-poohed the proposal for mosquito eradication. “The budget shows that the UDF council is moving to sabotage the progress made in the waste management measures introduced in Brahmapuram by again asking the NIT Kozhikode, which earlier submitted a report on the legacy waste piled up there, to do the same work again. Regarding mosquito issues, they propose GPS mapping and drone monitoring to identify breeding grounds. It is a farce. Will they fly a drone all over the city for that purpose?” asked Sreejith.The discussion on the budget proposal will be held on Thursday, and the reply will be given on Friday. MSID:: 128754741 413 |