Title: GHMC Seeks Rs 5,000 Crore Financial Assistance Ahead of Telangana Budget
The Greater Hyderabad Municipal Corporation (GHMC) is gearing up for significant financial relief as it requests special assistance amounting to Rs 5,000 crore in anticipation of the upcoming Telangana state budget announcement.
GHMC’s appeal for funds primarily targets capital works, debt servicing, compensation, taxes, and contributions from the State Finance Commission’s resources. The corporation faces mounting financial obligations stemming from previous administrations, particularly the Strategic Road Development Plan (SRDP) and Strategic Nala Development Plan (SNDP) projects initiated by the former government, which incurred borrowings of approximately Rs 6,500 crore.
With monthly debt servicing and interest payments surpassing Rs 100 crore, GHMC confronts substantial fiscal strain, prompting urgent appeals for financial aid. Sources reveal that GHMC has presented proposals amounting to around Rs 5,460 crore, encompassing initiatives such as the Hyderabad City Innovative and Transformative Infrastructure (H-CITI) program, SRDP, SNDP, and the Comprehensive Road Development Plan (CRMP) aimed at main road maintenance.
The GHMC Council previously passed a resolution in February seeking Rs 3,492 crore for the current fiscal year, underscoring the corporation’s pressing need for resources to address critical infrastructure and financial sustainability challenges.
