GHMC to Table Rs 7,937 cr Budget for 2024-25
Hyderabad: The GHMC on Monday announced a Budget estimate of Rs 7,937 crore for the 2024-25 fiscal, marking a Rs 1,713 crore hike from the previous fiscal, with Rs 4,479 crore set to be spent on roads, infrastructure, drains, greenery and street illumination.
The Budget will be placed in the GHMC general body meeting on Tuesday.
In addition to the Rs 7,937 crore, an additional Rs 500 crore has been proposed for constructing 2BHKs for the poor. The Budget for the ongoing fiscal of Rs 6,224 crore was later revised to Rs 6,690 crore. The 2024-25 GHMC Budget estimates a revenue income of Rs 5,938 crore, capital expenditure of Rs 4,479 crore and a surplus of Rs 2,480 crore.
Under the capital expenditure for 2024-25, Rs 1,550 crore is earmarked for roads, bridges and road restorations under Comprehensive Road Maintenance Programme (CRMP).
Officials said that Rs 874 crore is earmarked for debt servicing, stating that the BRS rule left the GHMC staring at a financial crisis and subsequent dependence on loans. The loans availed of by the corporation will be paid in a phased manner, they said.
Further, Rs 700 crore is earmarked for land acquisition to construct infrastructure projects, while Rs 380 crore is earmarked for solid waste management. The GHMC also decided to reduce the decades-old menace of urban flooding by proposing a revamp of the city’s stormwater drain network at Rs 320 crore.
According to the estimate, the GHMC is expecting to make most of its income from two sources, namely property taxes and building permit fees, estimating respective revenues at Rs 1,907 crore and Rs 1,600 crore. Besides, the GHMC is also expecting an influx of Rs 785 crore from the state government.