Hyderabad: The General Body meeting of Greater Hyderabad Municipal Corporation today unanimously approved the Rs 11,538-crore annual budget for 2019-20 introduced by Mayor Bonthu Rammohan.
The GHMC general body meeting to discuss the 2019-20 annual budget, which was held on Saturday morning, was attended by Commissioner Dana Kishore, MLCs Syed Amin Jafri, M S Prabhakar Rao, M A Salim, MLA Pasha Quadri, Kausar Moiuddin, Balala, Madhavaram Krishna Rao, Deputy Mayor Baba Fasiuddin, ex-officio members, corporators and officials.
After introducing the Rs 11,538-cr GHMC annual budget by the Mayor, the Council retained Rs 6,150 crore for the GHMC and allocated the remaining Rs 5,388 crore among the Housing Corporation, Hyderabad Road Development Corporation. While the GHMC nets Rs 3,210 crore revenue, it will receive another Rs 733 crore as capital receipts.
The Mayor said the remaining funds would be raised through bonds and bank loans. He said the GHMC would get Rs 1,694 crore in the form of Property Tax. Out of the Rs 6,150-crore revenue, estimated expenditure would be Rs 2,808 crore and capital expenditure Rs 3,342 crore, he said, adding that as per 14th Finance Commission recommendations, the GHMC would get Rs 418.82 crore from both the Centre and State governments.