Hyderabad: Supporting GST is proving to be very expensive for Telangana State. GHMC has to incur an additional amount of Rs. 260 crore whereas Hyderabad Metro Water Works has to pay Rs. 200 crore annually on account of payment of GST. It may hamper the developmental activities. As soon as PM Modi introduced “one nation one tax”, Mr. KCR was the first CM to extend its support by convening the sessions of Telangana Assembly and Council. Despite showing the loss of Rs. 3000 crore annually by Finance Dept., CM blindly supported GST. Slowly, the losses to be incurred by various departments are coming to limelight.
Municipal Administration Minister, Mr. KT Rama Rao convened a meeting of the officials of GHMC and Hyderabad Metropolitan Water Works and reviewed the impact of imposing GST. An estimate of Rs. 18000 crore was prepared for the construction of roads. Tenders were invited for the construction of 60000 2 BHK flats, against it an estimate of Rs. 1700 crore was calculated. For the acquisition of lands, an estimate of Rs. 2630 crore was prepared and another estimate for various works was prepared to the tune Rs. 1000 crore. For the completion of these works, GHMC has to incur an additional expenditure of Rs. 260 crore.
Hyderabad Metro Water Works is required to take an additional loan of Rs. 150 crore to meet the additional burden caused by the implementation of GST.
–Siasat News