TS finance panel moots development fund for Hyderabad

G Naga Sridhar Hyderabad | Updated on November 07, 2019

Suggests Hyderabad City Development Fund to meet the infrastructural facilities and raising the standard of living

Telangana State Finance Commission has advised the Greater Hyderabad Municipal Corporation (GHMC) to collect Hyderabad City Development Fund by imposing a tax on the sale of petrol, businesses such as hotels and vehicle sales, among others.

In a meeting with GHMC Mayor B Rammohan and Commissioner D S Lokesh Kumar, G Rajesham Goud, Chairman, State Finance Commission, Telangana said there was a need to explore ways and means to increase revenue for the corporation. It was also imperative to plug internal loopholes, if any, to step up revenue generation.

As Hyderabad was on the path of `becoming a global city', greater funds would be required to improve infrastructural facilities as well as increasing the standard of living, the SFC Chairman said.

According to Lokesh Kumar, there has been no increase in tax for residential buildings and non-residential buildings since 2002 and 2007 respectively.

Published on November 07, 2019

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