GHMC Council approves budget, seeks ₹3,492 crore from State government
The Hindu
GHMC approves ₹7,937 crore budget for 2024-25, seeks ₹3,492 crore grant from State government for financial assistance.
Greater Hyderabad Municipal Corporation’s council, continuing its meeting from Monday, approved the civic body’s budget for ₹7,937 crore for the year 2024-25 on Tuesday. This is apart from the ₹500 crore anticipated from the Housing Corporation towards construction and improvements of housing units for the poor.
The council also unanimously passed a resolution seeking ₹3,492 crore financial assistance from the State government towards debt servicing, compensation, taxes, and devolution from the State Finance Commission’s funds.
The budget has shown revenue receipts of ₹5938 crore from various sources, including ₹1,200 crore compensation to GHMC from the State budget for debt servicing. Other sources of revenue included ₹1,907 crore property tax collection, ₹1,600 crore town planning fee, ₹785 crore revenue receipts from the government, ₹200 crore mutation fee, ₹110 crore trade license fee, ₹20 crore advertisement fee, and others.
The ₹1999 capital receipts included ₹1,200 crore capital grants from the government and ₹350 crore grants from the 15th Finance Commission.
On the expenditure side, ₹1,550 crore was allocated for roads, bridges, comprehensive road maintenance programme, and ₹874 crore for debt servicing. ₹700 crore was allotted for land acquisition and ₹320 crore for strategic nala development project (SNDP).
Legislator and ex-officio member Mohammed Majid Hussain, who mooted the proposal to seek ₹3,500 crore grant from the State government, remarked that the GHMC’s budget is heavily dependent on assigned revenues and grants, the realisation of which was uncertain.
He pointed out that the funds GHMC proposed to generate on its own were only ₹3,646 crore, and the remaining were expected from the State and Central governments.
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