The Hindu 18.12.2009
GHMC scales down budget projection
| Municipal Corporation’s budget estimates for forthcoming year fixed at Rs. 2,637.76 crore |
Orders issued by the Municipal Administration and Urban Development Department on Thursday
Next year’s budget projection is pretty less even when compared to the budget of 2008-2009!
HYDERABAD: The Greater Hyderabad Municipal Corporation (GHMC) has significantly scaled down its budget projections for the next financial year of 2010-2011 by more than Rs. 500 crore when compared to the current budget for the year 2009-2010.
As per the orders issued by the Municipal Administration and Urban Development Department on Thursday, the municipal corporation’s budget estimates for the forthcoming year has been fixed at Rs. 2,637.76 crore, perhaps reflecting the dire financial condition of the civic body.
In sharp contrast, the preceding budget estimate was put at. Rs. 3,159 crore.
Senior officials then had boasted that the clean 8.4 per cent hike from the previous year’s budget estimate of about Rs. 2,920 crore was “realistic and futuristic” to propel the right kind of balanced development despite economic slowdown.
It also indicates that the next year’s budget projection is pretty less even when compared to the budget of 2008-2009! Officials explain that projections for next year were based on the likely expenditure and revenue generated till this month.
JNNURM funds
A significant issue was drastically reducing the expected funds under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM).
Earlier, it was expected that at least Rs. 1,000 crore could be obtained from the Centre under the Mission but having exhausted all the released funds for the city, the figure has now been reduced to about Rs. 300 crore.
The Commissioner had requested the Government to approve the budget as also the revised budget estimates for the current financial year.
The Standing Committee had accorded approval for the budget estimates as well revised estimates last month itself. The reduced estimate also means not much expectation of revenues.
Capital’s infrastructure development with inclusive growth slogan is likely to go for a toss as several projects including housing for poor, drains improvement, new link roads as well was road widening and many others are awaiting funds.
