GHMC Council Approves Rs 11,538-Crore Budget
Rs 6,150 crore of that will be for the GHMC, and the remaining Rs 5,388 crore for the Housing Corporation and the Hyderabad Road Development Corporation.
Hyderabad | 9th February 2019
The General Body meeting of the Greater Hyderabad Municipal Corporation today unanimously approved a Rs 11,538-crore annual budget for 2019-20, introduced by Mayor Bonthu Rammohan.
The GHMC general body meeting held on Saturday morning to discuss the 2019-20 annual budget was attended by Commissioner Dana Kishore, MLCs Syed Amin Jafri, M S Prabhakar Rao and M A Salim, MLAs Pasha Quadri, Kausar Moiuddin, Balala and Madhavaram Krishna Rao, Deputy Mayor Baba Fasiuddin, ex-officio members, corporators and officials.
After introduction of the budget by the Mayor, the Council retained Rs 6,150 crore for the GHMC and allocated the remaining Rs 5,388 crore to the Housing Corporation and the Hyderabad Road Development Corporation.
The GHMC expects to net Rs 3,210 crore in revenue (Rs 1,694 crore of that in the form of property taxes), and to receive another Rs 733 crore as capital receipts. The Mayor said that the remaining amount would be raised through bonds and bank loans.
Of the Rs 6,150 crore, Rs 2,808 crore would go to meet the estimated expenditure and Rs 3,342 crore would be capital expenditure, Rammohan said. He also added that as per the 14th Finance Commission recommendations, the GHMC would get Rs 418.82 crore from the union and the state governments.
filed in: GHMC, Budget, GHMC Budget, Bonthu Rammohan