The State Government of Hyderabad is trying to find ways to meet its financial needs for the last quarter of the current financial year. This is an important period for the new government as they had promised to implement six guarantees within 100 days of taking office.
One option is to raise Rs 13,000 crore through institutional loans if the Centre relaxes the FRBM norms. However, it is uncertain whether this will be possible. Therefore, the government is considering other options such as leasing out government lands for commercial purposes, reducing capital expenditure, increasing tax collections from commercial establishments, and promoting the real estate sector to generate more revenue through Stamps and Registration.
Before the start of the new financial year, the government needs at least Rs 10,000 crore in additional funds to implement new schemes. TSRTC has been asked to identify valuable lands and invite applications for commercial leasing. The revenue generated from these leases will help the corporation overcome financial burdens caused by the introduction of free bus travel for women.
The Commercial Taxes wing is cracking down on tax evaders, particularly large traders, and collecting long overdue dues. In just two weeks, over Rs 200 crore has been collected through intensified efforts.
Departments such as Irrigation, Roads and Buildings, and Municipal Administration and Urban Development have been instructed to slow down on new projects and hold off on releasing pending bills due to financial challenges.
The government is also taking steps to boost the real estate sector and increase revenue from property registrations. Meetings with representatives from the real estate sector are being organized to address the issues and challenges they face in stimulating demand in the state.
