Online desk Coronavirus infections continue to rise in various Canadian provinces. Meanwhile, the province's premiers, city corporation mayors, chief health officials and policymakers are all gaining momentum.
Many have worked at home during this time of the Corona epidemic. The pace of industrialization is not as rapid as it used to be. Restaurant business has come to a standstill in the lockdown. As a result, the government and the corporation are struggling to match the budget.
Under the Corona situation, 900 million of Toronto's proposed budget for 2021 will come from another government. Officials say they have had to prepare this year's budget in the face of a 2.2 billion deficit. However, they have been able to reduce the deficit by ৠ573 million by cutting off the salaries of workers outside the union.
According to city officials, 840 million has already been raised under the Safe Restart program to cover the remaining 1.8 billion deficit. Toronto expects to receive the remaining 756 million from various levels of government.
City authorities expect 61 million from the federal government to shelter the refugees. In addition, an additional 16 million will be available from the provincial government. Overall, the deficit will be reduced to close to seven percent of the 1.395 billion operating budget.
City officials say if federal and provincial governments do not step in to address the deficit, capital projects will either have to be scrapped or postponed and borrowed from the reserve fund.
City authorities also ran 1.8 billion deficit in 2020 due to the Kovid-19 epidemic. But the Toronto City Authority overcame the deficit with 1.9 billion in central funds given to the province to revive its own savings and economy of 534 million.
But in 2021, the Toronto Transport Commission (TTC) alone will have a deficit of 696 million. Toronto will have to spend an additional ৮ 261 million for citizens to maintain physical distance.
"As far as we know, this is going to be the most difficult budget season," said Gary Crawford, head of the budget team. We have had to do a lot of work to continue the services provided to the citizens without raising taxes.
The Canadian government has taken a number of steps since the beginning of the Corona epidemic to keep the country's citizens healthy and the economy normal, which is still in effect.
Concerned parties feel that the various steps taken by the government at this time of continuing corona deserve praise. The introduction of vaccines, on the other hand, will also help keep the Canadian economy afloat.
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