Hyderabad

GHMC facing financial crisis: Govt. did not release grants despite receiving income

GHMC facing financial crisis: Govt. did not release grants despite receiving income

Hyderabad: It seems that Govt. of Telangana is bent upon weakening financially the GHMC since it did not release the budget allocated for it despite Govt. getting income which created financial crisis for the city body. Many developmental works are hampered due to this.

Comrade M. Srinivas told that the grant of Rs. 276.63 crore as recommended by 14th Finance Commission during 2016-17 has not yet been released. He also mentioned that the income accrued on account of stamp duty to the tune Rs. 250 crore has to be given to GHMC but Govt. released only 40 crore. In the same manner, the shares of income on various accounts are yet to be released by the Govt.

Mr. Srinivas further highlighted that Govt. has to release Rs. 41.25 crore out of its income but this has not been given to GHMC. The corporation got only Rs. 50 lakh out of Rs. 24.20 crore collected from property tax. The corporation has to get Rs. 34.25 crore out of entertainment tax collected by the Govt.

He also pointed out that last year Govt. transferred Rs. 270 crore of the income of GHMC to Telangana State RTC which is causing financial crisis to the corporation.

Due to paucity of funds, GHMC is not in a position to take up developmental works and it has turned into an income generating institution for the Govt.

–Siasat News