GHMC: Revenues Down, Loans Exceeds Estimates | Nearby News
Home
Newsletters
Stories
Events
LifeStyle
Business
Administration
Politics
Entertainment
Startups

Hyderabad

GHMC: Revenues Down, Loans Exceeds Estimates
While GHMC planned to borrow Rs 1,224.51 crore in the current financial year, the authorities have already borrowed Rs 1,593.44 crore
N
Nishanth Kumar
Hyderabad
Tue Feb 15 2022
share via :
GHMC: Revenues Down, Loans Exceeds Estimates
A -
A +

The burden of loans on the GHMC treasury is increasing. The revenues are not on expected levels while the debts are skyrocketing and interests in them are becoming a big burden. The situation is as such it will be difficult to pay salaries and loan installments unless new loans are taken.


Going by the expenditure report for the financial year 2021-22, Rs 1178.4 crore has been collected as against Rs 1850 crore so far in the form of Taxes. Advertising revenue was Rs 45 crore a year earlier but now stands at Rs 9.55 crore. Rs 165.21 crore was spent on vehicles and other machinery. Vehicles used by the authorities consumed Rs 49.66 crore worth of fuel. Rs 238.47 crore was spent on the maintenance of the dumping yard.


While GHMC planned to borrow Rs 1,224.51 crore in the current financial year, the authorities have already borrowed Rs 1,593.44 crore, exceeding expectations. Rs 1,407 crore has been spent on the development of roads, flyovers, traffic junctions, and Rs 126 crore on Nalas. The corporation raises Rs 3,000 crore for SRDP through bonds and bank loans. While a loan of Rs 1460 crore is required for CRMP, 60 percent fundraising has already been completed. GHMC is currently paying interest of Rs 200 crore per annum on bank loans and debentures. There is criticism about spending Rs 52 crore on mobile applications and other IT services.


Get your local newspaper delivered to your Email at 7am everyday
Select City
Select City

FOLLOW US

GHMC: Revenues Down, Loans Exceeds Estimates
GHMC: Revenues Down, Loans Exceeds Estimates
Latest Articles
Biryani Blues Making Waves Across the Country
Biryani Blues Making Waves Across the Country
Couple Comes To See Rented House, Caught Doing Inappropriate Things!
Couple Comes To See Rented House, Caught Doing Inappropriate Things!
One More HPS Campus In Greater Hyderabad
One More HPS Campus In Greater Hyderabad
The Top IT Skills Sought-after in Hyderabad
The Top IT Skills Sought-after in Hyderabad
Renovated British Residency Now Open for All, But With a Fee
Renovated British Residency Now Open for All, But With a Fee
MMTS Charges Slashed By 50%
MMTS Charges Slashed By 50%
Artisanal Ice Cubes Are The New Fad in the Food Scene
Artisanal Ice Cubes Are The New Fad in the Food Scene
GHMC Proposes 15 New Infra Projects Under SRDP Phase 2
GHMC Proposes 15 New Infra Projects Under SRDP Phase 2
Flagship Store for Weaves Straight from Paithan Village
Flagship Store for Weaves Straight from Paithan Village
Prajwala Completes 25 Yrs of Rescuing and Rehabilitating Trafficked Women
Prajwala Completes 25 Yrs of Rescuing and Rehabilitating Trafficked Women
Related Articles
One More HPS Campus In Greater Hyderabad
One More HPS Campus In Greater Hyderabad
Renovated British Residency Now Open for All, But With a Fee
Renovated British Residency Now Open for All, But With a Fee
MMTS Charges Slashed By 50%
MMTS Charges Slashed By 50%
GHMC Proposes 15 New Infra Projects Under SRDP Phase 2
GHMC Proposes 15 New Infra Projects Under SRDP Phase 2
LifeCircle Providing Healthcare Solutions for Geriatrics
LifeCircle Providing Healthcare Solutions for Geriatrics
Lockdown Penalties: Fines Reduced From Rs 1000 To Rs 10
Lockdown Penalties: Fines Reduced From Rs 1000 To Rs 10
Miscreant's Hulchul On Metro Track, Services Disrupted
Miscreant's Hulchul On Metro Track, Services Disrupted
Actor's Publicity Stunt, Human Rights Commission Serious!
Actor's Publicity Stunt, Human Rights Commission Serious!
A Store Exclusively Meant for Handlooms and Weaving Community
A Store Exclusively Meant for Handlooms and Weaving Community
Early Bird Brings Record Tax Collection To GHMC 
Early Bird Brings Record Tax Collection To GHMC 
Special Drives To Clear Pending Challans!
Special Drives To Clear Pending Challans!
425 Crore Worth Electoral Bonds Sold In Hyderabad
425 Crore Worth Electoral Bonds Sold In Hyderabad
Corona Cases To Increase From June: Health Ministry
Corona Cases To Increase From June: Health Ministry
GHMC Imposes Nominal Fines On TRS Plenary Flexes!
GHMC Imposes Nominal Fines On TRS Plenary Flexes!
High Alert Declared as Drone Spotted Over Shamshabad Airport
High Alert Declared as Drone Spotted Over Shamshabad Airport
Water Crisis Looms Large on Many Colonies in Hyderabad
Water Crisis Looms Large on Many Colonies in Hyderabad
Subscribe to our Newsletter
Get your local newspaper delivered to your Email at 7am everyday
Select City
Select City
logo
hi@nearbynews.in
Gachibowli, Hyderabad - 500032
nearby news © - 2022