GHMC panel approves budget for new fiscal
Interestingly, there were no changes when compared to the draft budget approved earlier; both remained at Rs 6,150 crore.
Hyderabad: The Greater Hyderabad Municipal Corporation’s standing committee on Thursday approved the municipal corporation’s revised budget of Rs 6,150 crore for 2019-20.
The civic body placed the Budget proposals before GHMC’s standing committee meeting chaired by Mayor Bonthu Rammohan for discussion on Thursday.
Interestingly, there were no changes when compared to the draft budget approved earlier; both remained at Rs 6,150 crore.
The committee approved the revised Budget, which has increased by Rs 775 crore when compared to the current financial year’s Budget of Rs 5,375 crore. This apart, Budget estimates for major projects of other corporations assigned to GHMC were increased from last year’s Rs 3,560 crore to Rs 5,388 crore.
Under GHMC funds, about Rs 1,850 crore has been sanctioned for Strategic Road Development Plan (SRDP), Rs 176 crore for bridges, flyovers and subways, '409 crore for stormwater drainage system, Rs 262 crore for water supply and sewerage system, Rs 44 crore for street lighting, Rs 71 crore under green budget and no funds were earmarked for Multi-Modal Transport System.
GHMC has proposed to borrow Rs 2,367 crore from financial institutions. It has set a target of Rs 1,694 crore through property tax collections.
It also approved a separate budget for major projects of other corporations assigned to GHMC, like the Telangana Housing Corporation for construction of 2 BHK houses and the Hyderabad Road Development Corporation Limited which has been reduced from Rs 7,073 crore (2018-19) to Rs 5,388 crore for (2019-20).
To be precise, the reduction is by Rs 1,600 crore, when compared to 2018-19 Budget. The GHMC has proposed budget estimates of Rs 11,538 crore for two separate categories for 2019-20, as against Rs 13,150 crore for 2018-19, showing a reduction of Rs 1,612 crore.