GHMC proposes draft budget of Rs.5643 crore

The Greater Hyderabad Municipal Corporation (GHMC) has proposed a draft budget of about Rs 5,643 crore for the financial year 2017-18. This is a minor increase of Rs 43 crore compared to the current financial year (2016-17).

The draft budget has been submitted to the standing committee for approval. The standing committee under the chairmanship of Mayor Bonthu Rammohan, however, has decided to discuss the issue in detail during the next standing committee meeting to be held on November 24.

The standing committee has powers to make changes to the draft budget prepared by the GHMC by increasing or decreasing the budget proposals of certain components and can introduce new schemes and projects etc.After the approval of the budget, the same would be placed before the general body of the corporation for approval and after its ratification it would be sent to the



state government for approval. The entire process would take two to three months time.   

Previous budgets used to witness a whopping increase between Rs 700 and Rs 900 crore but the budget proposed for 2017-18 is just an increase of Rs 43 crore which means no important projects have been proposed during the next financial year except for the announced projects.

Of the proposed Rs 5,643 crore, Rs 3,026.73 crore has been earmarked under capital expenditure while Rs 2,616.27 crore has been earmarked under revenue expenditure.

Meanwhile, the current budget (2016-17) will also be revised. It will be be reduced from Rs 5,600 crore to Rs 5,061.74 crore which is Rs 538 crore less as GHMC could not receive the anticipated funds from Central and state government for various projects and schemes and also the Finance Commission Grants.