GHMC council approves budget in virtual meeting

Corporation’s annual budget proposals for 2021-22 amounts to ₹ 6,842 crore

GHMC Council has, during its virtual meeting on Tuesday, accorded the stamp of approval to the corporation’s annual budget proposals for the year 2021-22, for ₹ 6,842 crore. Apart from the GHMC’s own budget of ₹ 5,600 crore, the proposals include funding of ₹ 1,242 crore for the double bedroom housing project which has been taken up by the civic body on behalf of the Telangana State Housing Corporation. Revenue income for the year is pegged at ₹ 3,571 crore, while revenue expenditure is estimated to be ₹ 2,414 crore, leaving a surplus of ₹ 1,157 crore. Of the revenue income, a total of ₹1,850 crore is shown as accruing through property tax. A total of ₹ 355 crore is shown as grants from the 15th Finance Commission. Capital receipts of ₹ 3,186 crore, when coupled with the funding expected from the Housing Corporation, amounted to ₹ 4,428 crore. ₹1,242 crore has been shown under the head of construction and improvements of the housing units for the poor.