Telangana to raise Rs 1,000 crore through GHMC bonds

Mr Rama Rao said the stretch between Nehru Zoological Park and Aramgarh is being developed at a cost of Rs 600 crore.

HYDERABAD: Municipal administration and urban development minister K.T. Rama Rao said on Thursday that Rs 1,000 crore was being raised by issuing bonds through Greater Hyderabad Municipal Corporation (GHMC) which will be utilised only for the development of the city. He said Rs 200 crore was already raised and utilised for Strategic Road Development Programme (SRDP), to construct skyways, develop major corridors, roads, grade separators/flyovers to ease traffic congestion with an aim to increase the average speed of vehicles in the city from 15kmph to 35 kmph.

Speaking in the Legislative Assembly, during the Question Hour, Mr Rama Rao said, “As part of SRDP in the city, various development works worth Rs 3,000 crore are under various stages of execution. We have proposals to take up works at a cost of Rs 20,000 under SRDP. These will be executed in a phased manner to make Hyderabad a global city.” Citing major works in the city, Mr Rama Rao said the stretch between Nehru Zoological Park and Aramgarh is being developed at a cost of Rs 600 crore; in Jubilee Hills with Rs 333 crore and Bahad-urpura flyover at a cost of Rs 63 crore.

The minister informed the House that when Prime Minister Narendra Modi visited Hyderabad in November last to inaugurate Hyderabad Metro Rail, he had asked about raising funds for the development of the city by issuing municipal bonds. “I had an opportunity to interact with the PM for few minutes while travelling to and fro in the Metro after its inauguration. He asked me whether we are raising funds by issuing bonds. I told him that we are in the process of issuing bonds to raise Rs 1,000 crores. The PM appreciated us and said that while he was the Gujarat CM, he too raised money for the development of Ahmedabad city,” Mr Rama Rao said.

He said that once completed, the SRDP will help minimise the travel time in the city and reduce the air pollution levels by minimising the fuel consumption. “Congested traffic junctions are the major cause of delay faced by commuters. For providing continuous traffic movement, SRDP with a conflict free road network has been planned,” Mr Rama Rao said.

( Source : Deccan Chronicle. )
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