Hyderabad: The Greater Hyderabad Municipal Corporation (GHMC) presented its draft Budget of Rs 5,380 crore for the financial year 2020-21 before the civic body’s standing committee on Thursday.
The committee has to give its nod to the draft Budget, which has been revised by Rs 770 crore, compared with the current financial year’s Budget of Rs 6,150 crore. This is done in tune with the State Government’s realistic Budget this financial year, said a senior official from GHMC.
This apart, the budget estimates for major projects of other corporations assigned to GHMC has also been finalised at Rs 1,593 crore. The overall Budget, including the estimates for GHMC funds and those for major projects of other corporations assigned to the GHMC, is Rs 6,973.64 crore.
In the proposed Budget of Rs 5,380 crore, Rs 2,630 crore is meant for capital expenditure and Rs 2,750 crore is earmarked under revenue expenditure. Revenue surplus is expected to be Rs 917 crore. GHMC’s revenue is expected to be Rs 3,667 crore.
In the new Budget, as per the government’s orders, a Green Budget was earmarked, besides putting emphasis on land improvement, construction of bridges, flyovers, stormwater drainage etc. The municipal body had set tax collection target of Rs 1,803 crore against the last financial year’s target of Rs 1,694 crore.
As per rules, the draft Budget is presented before the standing committee by November 10. The standing committee is entitled to make recommendations, including addition or deletions in the Budget, before December 10.
After the committee’s approval, it is to be placed before the GHMC’s General Body for debate before December 15 and reviewed again before January 10, 2020.
Once the General Body ratifies it, the draft budget has to be forwarded to the State Government before March 7, 2020, for final approval.