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Is Telangana Government pushing GHMC into debts?
Greater Hyderabad Municipal Corporation
The government is yet to release Rs 1,200 crore to the Corporation which it received from the Registration and Stamps department
Hyderabad: Though the Minister for Municipal Administration and Urban Development (MA&UD), KT Rama Rao, in most of his public meetings gives examples of development works being carried out by theGreater Hyderabad Municipal Corporation (GHMC), the State, on the contrary, is responsible for pushing the GHMC into debts.
The State government has not been releasing funds to the GHMC as it has not yet passed the stamp duty and mutation fee of two financial years to the Corporation even after the Registration and Stamps department has already deposited the money into the State government's bank account. The Registration and Stamps department has deposited the money of stamp duty and mutation fee, which is payable to GHMC for the financial years 2020-21 and 2021-22. But till now, those funds have not been given to the GHMC.
Sources at the GHMC said that the Corporation was not told about the details of funds coming into the State government's bank account from the Registration and Stamps department. With this, the municipal corporation has landed in a serious financial crisis and runs into more debts day after day with multiple projects being taken up by borrowing bank loans for which the GHMC pays Rs 365 crore annually only as interest.
The GHMC receives most of its revenue from the Registration and Stamps department after Town Planning and Property Tax. But with these funds being held by the government itself, the burden is more on the municipal corporation. A few months ago, the authorities wrote a letter to the Registration and Stamps department seeking payment of stamp duty and mutation fee that are due to GHMC.
In the reply, the GHMC was told that the funds have been already deposited in the bank account of the State government. When the GHMC officials also spoke to the Finance department on the same, they were told that the payment would be made soon.
According to GHMC officials, stamp duty and mutation fee for the financial year 2020-21 and 2021-22 would be around Rs 1,200 crore.
In a recent council meeting, GHMC Commissioner Lokesh Kumar also said that the soon the stamp and mutation fee for the two financial years would be received by the GHMC.
However, there is no clarity from the government on why these funds are not being released. Meanwhile, there is also widespread criticism that State government is also responsible for GHMC getting into more debts as the government has not released the funds.
