Hyderabad: The Hyderabad Municipal Corporation (GHMC) in its 2023-24 budget earmarked the majority of funds for road and sanitation development. The proposed total annual budget of GHMC is Rs 6,224 crore out of which Rs 15,300 crore for roads and Rs 10,480 crore for health and sanitation for civil institutions.
GHMC’s budget has also increased by Rs 740 crore compared to the previous year. The budget for 2022-23 is Rs 6,150 crore. Among other proposed expenditures, GHMC will spend Rs 2.94 billion for landscaping, Rs 7 billion for land acquisition, Rs 5.1 billion for nalas and Rs 2.4 billion for street lighting. The rest of the proposed spending would be for agency spending, debt servicing and other expenses.
This year, GHMC also plans to generate Rs 2,000 crore through property taxes and Rs 1,750 crore through building permits and fees collected by the company’s urban planning department. GHMC will also generate revenue from fees and user charges for services provided by its various divisions. For the upcoming financial year, GHMC has set a revenue target of Rs 3,967 crore and a capital expenditure target of Rs 3,557 crore.
According to budgetary estimates, Pattana Pragati and the Fifteenth Finance Committee have an appropriation of Rs 8.34 billion and proposed borrowing of Rs 12.18 billion. Including all these components, the budget for 2023-24 is Rs 6,224 crore, which Mayor G Vijaya Laxmi said will be discussed before it is approved. She mentioned that the revenue surplus was Rs 1300 crore and the capital income including revenue transfers, program allocation contributions etc. was Rs 3557 crore.
“The Revised Budget Estimate (RBE) for 2022-23 has also increased from Rs 6,150 crore to Rs 6,475 crore and GHMC has increased its budget by Rs 740 crore for the upcoming financial year compared to the previous year,” she said .
