Industry & Economy
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Budget
Hyderabad Corporation okays budget estimates
Our Bureau
Hyderabad
,
Jan. 8
THE General body of the Municipal Corporation of Hyderabad (MCH) today approved Rs 680.69 crore budget estimates for the year 2004-05, as against Rs 542.10 crore last year, an increase of 25.57 per cent, at the sixth special budget meeting held here today.
Presenting the Budget Mr Haroon Khan, Chairman of MCH's Standing Committee, termed it as `pro-poor' and `development oriented'. "It aims at increasing in revenue sources and broadening the tax base," he said.
Elaborating on the initiatives to broaden the tax base, he said the innovative methods such as collecting taxes through e-seva centres, sending tax bills using courier services and posting demand notices by post were introduced.
`Financial Management through accrual-based accounting system' too would help the corporation in planning its resources better.
"The Budget also aims at shifting the focus on asset creation by strengthening infrastructure including laying roads, building drainage networks, parks and playgrounds," he said.
The MCH also proposed to modernise all its offices with a view to creating good working environment. Indira Park would get a facelift on par with international standards.
Another important proposal is to allocate Rs 114.69 crore for the "abatement of pollution of Musi river project". The Rs 344.08-crore project is aimed at freeing the river from pollution by plugging the polluting sources.
The Union Government would bear 70 per cent of the project cost, while the State Government chipping in the remaining part. "The project will be completed in three years," Mr Khan said.
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