Financial Daily from THE HINDU group of publications
Wednesday, Dec 25, 2002
Financial Daily from THE HINDU group of publications Wednesday, Dec 25, 2002 |
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Industry & Economy
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Economy Rs 542-cr budget for Hyderabad council Our Bureau
HYDERABAD, Dec. 24 A DRAFT budget of Rs 542 crore for the Municipal Corporation of Hyderabad (MCH), which covers the twin cities of Hyderabad and Secunderabad, has been approved by the standing committee for the year 2003-2004. The budget seeks to focus primarily on various development-related activities. The MCH Commissioner, Ms Chitra Ramachandran, told presspersons that the budget was notable for bringing down borrowings from Rs 100 crore to Rs 35 crore next year. Last year's budget was Rs 590 crore which included Rs 100 crore from borrowings. While all the recommendations were agreed to by the committee, they would be placed before the general body for clearance and further action. The budget seeks to increase internal revenue generation by about 17 per cent, while curtailing the internal expenditure by about 4.7 per cent. The emphasis on the budgetary process is to bring in transparency in accounting procedures, and thrust on the `clean and green' concept. The standing committee resolved to provide for a separate budget head for the Charminar Pedestrian Project. The standing committee recommended hike in service charges from the Railways to Rs 5 from Rs 2 crore now and wanted property tax collected from State Government to be hiked from Rs 19 crore to Rs 30 crore along with hike of Rs 3 crore to Rs 10 crore for the Central Government. The committee recommended grant of Rs 500 crore to the Corporation as compensation in lieu of octroi. The committee had hiked budgetary allocation for roads and pavements from Rs 60 crore to Rs 80.65 crore, lighting from Rs 16 crore to Rs 20 crore, parks and plantations (Rs 28 crore), storm water drainage (Rs 35.75 crore), urban community development (Rs 11.50 crore) and playgrounds and sports (Rs 9.50 crore).
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