Hyderabad: The Greater Hyderabad Municipal Corporation has obtained the term loan Rs 5,900 Crore from the state of the state of India for the implementation of the Strategic Road Development Plan (SRDP) and paying Rs 296 Crore against annual debt services on it.
Minister of Administration KT KT Rama Rao told the assembly for one hour on Monday that the money borrowed and spent on the creation of infrastructure should be seen as an investment for the future and not as debt.
“Nothing needs to worry about GHMC’s financial health because the civic body debt is supported by government guarantees.
The government is all for the addition of roads and the creation of infrastructure,” he said.
By stating that Hyderabad grew into a global city and was locked in the grid, he said the government had taken SRDP to facilitate vehicle traffic congestion at a cost of Rs 5,693 Crore.
“Under SRDP, road links, new roads, underpasses and flyovers are being built.
So far, 22 works have been completed at a cost of 1,946 crores.
24 other works (21 by GHMC and three other departments) are in various stages of completion.
Some works The ongoing will be completed on June 20222 and outside December 2022, “he said.
Replying to the comments of the Leader of the Aimim Akbaruddin Owaisi that not one project under SRDP was completed in the old city so far, the minister claimed to delay the solution to the Bahadurpura flyover due to the negligence of the contractor.
However, he assured that work on projects worth 1,545 crore in the South Zone will be accelerated under SRDP.