Hyderabad: When it comes to financial management and administration, the Greater Hyderabad Municipal Corporation (GHMC) continues to be rated amongst the best corporations in the country. Despite the recent setbacks during the lockdown, the corporation managed to retain its AA rating (stable outlook) from two rating agencies, authorities on Monday said.
During the lockdown, which resulted in a drop in earnings to the Town Planning wing, the GHMC could take up developmental activities and utilize the lockdown period effectively in executing road works, developing flyovers at various junctions without any financial constraint, and even paid salaries, pensions, and wages to its employees.
Due to the recent floods and general elections, the GHMC could not focus on revenue collections, which resulted in a slight delay in payment of work bills. However, after elections were over, payments were released till September 10 and further bills are expected to be cleared in a phase-wise manner duly meeting other maintenance expenditure, a press release said.
The State government has already released Rs 564.92 crore to the GHMC from April to November and will release another Rs 312 crore from December to March 2021 at Rs 78 crore per month, the release added.
