GHMC Budget increases by Rs 550 crore
Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) has increased its budget by Rs 550 crore compared to the previous year. While the 2021-22 budget allocation was Rs 5,600 crore, the annual budget for 2022-23 has been increased to Rs 6,150 crore. The corporation will place this draft annual budget estimate of Rs 6,150 crore before […]
Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) has increased its budget by Rs 550 crore compared to the previous year. While the 2021-22 budget allocation was Rs 5,600 crore, the annual budget for 2022-23 has been increased to Rs 6,150 crore.
The corporation will place this draft annual budget estimate of Rs 6,150 crore before the GHMC Standing Committee on Wednesday and the budget is likely to be approved, according to GHMC officials and members of the committee. Meanwhile, the Revised Budget Estimate (RBE) for 2021-22 has been increased to Rs 6,300 crore and the REB will also be placed before the committee for approval.
As per the draft budget, the allocation for construction of 2BHK houses under Telangana’s Dignity Housing Scheme has decreased by Rs 1,241.33 crore as most of the units have already been constructed, officials.
Recently, Municipal Administration & Urban Development Minister KT Rama Rao announced that the distribution of the houses will start after the Assembly session ends. For 2022-23, Rs 406.70 crore has been earmarked for the construction of houses.
For the coming financial year, a lion’s share has been marked for health and sanitation, road infrastructure and nalas. Out of the Rs 6,150 crore budget, capital expenditure that takes care of road infrastructure, sanitation, illumination, greenery, drains, construction of pavements and other developmental works is Rs 3,350 core and the revenue income is Rs 3,434 crore.
In 2022-23, the GHMC is expecting to collect Rs 1,700 crore through property tax, Rs 1,200 crore through other revenue generation activities executed by the town planning wing including issuing building permits.
One of the innovations that saved crores of GHMC funds this year too is the Transfer Development Rights (TDR) policy. The corporation was able to save over Rs 3,400 crore since the policy was implemented and TDR has turned into a win-win situation for the government as well as the property owners. Niti Aayog has also recognised the policy as one of the best practices in the country for the acquisition of lands.
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