STOCK MARKET BSE NSE

Cash-strapped municipal body of Hyderabad in dire need of funds

The cash-strapped GHMC has sought budgetary allocation of Rs 2,018 crores from the state government for the year 2017-18.

Published: 18th February 2017 04:08 AM  |   Last Updated: 18th February 2017 04:08 AM   |  A+A-

Express News Service

HYDERABAD: The cash-strapped Greater Hyderabad Municipal Corporation (GHMC) has sought budgetary allocation of Rs 2,018 crore from the state government for the year 2017-18. The civic body’s demand is an effort to bail it out from financial instability.

For the current year (2016-17), the government-sanctioned Rs 70 crore towards payment of property tax on government buildings, taxes on vehicles, profession tax and octroi etc to the corporation. However, nothing was sanctioned for implementation of new schemes and projects including the double bedroom houses for urban poor, Strategic Road Development Plan (SRDP) and other projects.

For 2016-17, there were no major budget allocations made by the state government to the corporation. Presently, GHMC is reeling under severe financial crisis and finding it difficult to pay salaries to its staff.

Meanwhile, GHMC officials told Express that the corporation has submitted budget proposals to the state government a few weeks ago and hoped that government would allocate adequate funds for the financial year 2017-18.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp