Live
- Allu Arjun Arrested: KTR Reacts on X, Calls Arrest Unfair
- Bold steps by Modi govt in reviving Indian heritage, culture: Union Minister
- What are the charges against Allu Arjun: Understanding the Charges Against Him
- Allu Arjun Objects to Arrest Procedure, Requests Breakfast and Change of Clothes
- ‘Fear’ movie review: A gripping suspense thriller
- Phenom Successfully Hosts IAMPHENOM India, Transforming the Future of Work with AI, Automation, and Talent Experience
- Constitution provides shied, guarantee to Indians: Priyanka in LS
- Allu Arjun’s Quash Petition Hearing at 2:30 PM; Chiranjeevi Visits Police Station
- Bommai hails 'One Nation, One Election' move as PM Modi’s bold decision
- Telangana IT Minister D. Sridhar Babu Highlights Future City Vision and Data Center Growth at IAMPHENOM Event
GHMC heading for financial crisis
By all probability, the Greater Hyderabad Municipal Corporation (GHMC) is heading towards deep financial crises with expenditure outweighing revenue. Speaking to The Hans India, Finance wing officials expressed doubts whether the corporation could pay salaries to its employees after three months.
Hyderabad: By all probability, the Greater Hyderabad Municipal Corporation (GHMC) is heading towards deep financial crises with expenditure outweighing revenue. Speaking to The Hans India, Finance wing officials expressed doubts whether the corporation could pay salaries to its employees after three months.
“We have no option but to depend on loans to carry forward the State government’s flagship programmes like ‘Strategic Road Development Plan’ (SRDP) and construction of about one lakh 2BHK houses for the urban poor,” the officials said.
According to a senior GHMC official, the State government has put about Rs 130 crore on hold which was sanctioned by the Centre as recommended by the 13th Finance Commission. Besides this,
the State government has also reduced the corporation grants from Rs 428 crore (Financial Year 2014-15) to Rs 11 crore (Financial Year 2015-16) and also decreased the HMRL funds from Rs 414 crore for the Financial Year 2014-15 to Rs 100 crore for 2015-16.
As a result, the revenue of the corporation decreased from Rs 3,149.50 crore in 2014-15 to Rs 2,500.57 crore in 2015-16, while the expenditure increased from Rs 2,832.31 crore (2014-15) to Rs 3,072.25 crore (2015-16).
The official further said that the corporation, in order to overcome financial crises, utilised Rs 500 crore worth fixed deposits and now planned to use the overdraft facility available for the Rs 100-crore FDs, which would help the civic body mobilise Rs 74,000 crore.
The official said that the current account of the civic body did not have more than Rs 20 crore, which would be used for day-to-day works. Adding to their woes, the corporation has been burdened with Rs 137 crore for the maintenance of TSRTC and Rs 50.35 crore for HMWS&SB.
GHMC Additional Commissioner (Finance) D Jayaraj Kennedy said the civic body had been paying about Rs 300 crore towards salaries of employees and was spending about Rs 120 crore on taking up several maintenance works on a monthly basis.
On the contrary, the GHMC has collected about Rs 600 crore so far the Financial Year 2016-17. He said unlike the previous years, property tax collection during the current year had bailed out the corporation so far. Kennedy said the GHMC had collected Rs 210 crore through the ‘early bird rebate scheme’ and about Rs 480 crore from the Town Planning and Revenue wings.
He said if the situation continues in a similar way, the civic body would be in such a situation that they would not be able to pay monthly salaries to its employees. When queried about the State government's flagship programmes like SRDP and constructing about one lakh 2BHK houses in the city, he said the corporation was not in a position to take up these projects. Instead, the corporation had to depend on loans with the State government's assurance, he said.
By: Maddy Deekshith
