Hyderabad, Feb 21 (FN Agency) Greater Hyderabad Municipal Corporation’s (GHMC) Council unanimously approved the civic body’s budget of ₹7,937 crore for the fiscal year against RS 6,224 crore in 2023–24. In addition to the budget, an additional Rs 500 crore was allocated for the construction of two BHKs for the poor. The council also unanimously passed a resolution seeking RS 3,492 crore in 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 Rs 5938 crore from various sources, including Rs 1,200 crore compensation to GHMC from the state budget for debt servicing. The GHMC hopes to get most of its income from property tax collection (RS 1,907 crore) and building permit fees (RS 1,600 crore). Other sources of revenue included RS 785 crore revenue receipts from the government, RS 200 crore mutation fee, RS 110 crore trade licence fee, RS 20 crore advertisement fee, and others.
The RS 1999 capital receipts included RS 1,200 crore in capital grants from the government and RS 350 crore in grants from the 15th Finance Commission. GHMC reduced the capital borrowings to Rs 128 crores against Rs 1,764 crore in the previous FY. On the expenditure side, RS 1,550 crore was allocated for roads, bridges, and a comprehensive road maintenance programme; Rs 700 crore was allotted for land acquisition; and Rs 320 crore was allotted for the strategic Nala Development Project (SNDP).