Greater Hyderabad Municipal Corporation’s council, continuing its meeting from Monday, approved the civic body’s budget for ₹7,937 crore for the year 2024-25 on Tuesday. This is apart from the ₹500 crore anticipated from the Housing Corporation towards construction and improvements of housing units for the poor.
The council also unanimously passed a resolution seeking ₹3,492 crore financial assistance from the State government towards debt servicing, compensation, taxes, and devolution from the State Finance Commission’s funds.
The budget has shown revenue receipts of ₹5938 crore from various sources, including ₹1,200 crore compensation to GHMC from the State budget for debt servicing. Other sources of revenue included ₹1,907 crore property tax collection, ₹1,600 crore town planning fee, ₹785 crore revenue receipts from the government, ₹200 crore mutation fee, ₹110 crore trade license fee, ₹20 crore advertisement fee, and others.
