GHMC Is In Debt of Rs 6,314 Crore

Hyderabad: Officials from the Greater Hyderabad Municipal Corporation (GHMC) have prepared a draft related to the status of its finances, which will be submitted to the Chief Minister.

According to the draft, the corporation is in a debt of Rs 6,314 crore.  The major borrowing, to the tune of Rs 4,250 crore, was taken for executing projects under the strategic road development plan (SRDP). The BRS government had built a series of flyovers, underpasses, RuBs and RuBs as part of SRDP infrastructure projects.

The other major debt of Rs 1,304 crore was towards road maintenance payments to contractors. A loan of 700 crore loan was availed to revamp the storm water drain network. The draft also mentions minor loans taken for construction of houses for the poor.

According to GHMC officials, they had not received any financial support from the state government, except for the Telangana Ku Haritha Haram (TKHH) programme.