GHMC approves Rs 3,600 Cr budget
Hyderabad, Feb 9 (INN): The General Special Council of the Greater Hyderabad Municipal Corporation (GHMC) on Thursday approved Rs 3,600 crore budget for the financial year 2012-13.
The GHMC's total outlay of Rs 3,600 crore including revenue expenditure of Rs 1,317 crore and capital expenditure of Rs 2,283 crore.
Presenting the budget, GHMC Mayor Mohammad Majid Hussain said that the budget was poised to reflect the plans and priorities of GHMC for the ensuing year.
"Many projects, schemes, programmes and policies are being implemented by the GHMC for improvement and upgradation of civic amenities in the GHMC area.
Greater Hyderabad Development Programme and slum-free Hyderabad Project are two prestigious programmes being taken up in the 2012-13 financial year," he said.
The GHMC Mayor said that the Old City Development Package, Charminar Pedestrianisation Project and Musi Revitalisation Project and other projects under JNNURM would be continued as spill-over works.
Majid Hussain claimed that under the revenue account, the tax revenues, fees and user charges receipts of GHMC were showing signs of improvement due to better utilisation of property tax collections, trade licensing fees, building permit fees, buildings development charges, betterment charges, impact fees, garbage collection charges, advertisement fees and other user charges and levies.
The GHMC expects that without increasing the tax rates, property tax collections are expected to go up substantially to Rs 720 crore next year by bringing all the un-assessed properties into the tax net; by unearthing under-assessment and change of use by property owners and through recovery of property tax dues from the defaulting property-owners.
The GHMC Mayor said that an amount of Rs 599.85 crore is expected in the budget 2012-13 towards assigned revenues such as surcharge on Stamp Duty, Entertainment Tax, Professional Tax and Motor Vehicle Tax.
The corporation is also expected to get Rs 65 crore towards trade licenses fee. While Rs 35 crore are expected from Advertisement Tax, the Town Planning wing is likely to earn Rs 478 crore this year.
The GHMC is also expecting plan grants from the Central and State Governments including the last tranche of funds under JNNURM.
Plan grants of Rs 1,092 crore in 2012-13 would include Rs 215 crore under JNNURM, Rs 450 crore under Hyderabad Metro Rail Project, Rs 30 crore under MMTS Phase II, Rs 89 crore from 13th Finance Commission and Rs 308 crore under Rajiv Awas Yojana.
Further, the GHMC has also lined up a loan of Rs 600 crore through financial institutions and banks for taking up the Greater Hyderabad Development Plan.
Of the total budgeted revenue expenditure of Rs 1,317 crore, as much as Rs 650.49 crore have been earmarked towards establishment expenses, Rs 526.30 crore towards operation and maintenance and Rs 44.42 crore towards administrative expenses.
A total amount of Rs 2,283 crore has been allocated under capital expenditure including Rs 609 crore towards land improvement, Rs 150 crore for Rs bridges, flyovers and subways, Rs 486.60 crore for Roads and Pavements, Rs 100 crore for Storm Water Drains, Rs 40 crore for water supply and sewerage and Rs 56 crore for street lighting and a massive outlay of Rs 701 crore for housing.
News Posted: 9 February, 2012
|
