On Monday, December 28, authorities announced that the Greater Hyderabad Municipal Corporation (GHMC) appears to be ranked among the best corporations in the country when it comes to financial management and administration. The corporation continued to maintain its AA rating (steady outlook) from two rating agencies amid the recent setbacks during the lockdown.

GHMC Recognized as Best in Budget Allocations

The GHMC could take up construction activities during the lockdown, which resulted in a reduction in earnings to the Town Planning wing, and used the lockdown time efficiently in the execution of road works, developing flyovers at different junctions without any financial restrictions, and even paying wages, pensions and salaries to its employees.

The civic body was unable to concentrate on revenue collections due to the recent floods and general elections, which resulted in a small pause in the payment of employment bills. However, payments were issued until September 10 after the elections were over and more accounts are required to be cleared in a phase-wise manner to sufficiently meet other maintenance expenditure.

From April to November, the state government has already released Rs 564.92 crore to the GHMC and would release a further Rs 312 crore at Rs 78 crore per month from December to March 2021.

By: Shailaja K