Fwd: Who wants Hyderabad?!

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Ramachandraiah Chigurupati

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Feb 22, 2011, 1:29:18 AM2/22/11
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---------- Forwarded message ----------
From: Anant Maringanti <anan...@gmail.com>
Date: Tue, Feb 22, 2011 at 10:33 AM
Subject: Who wants Hyderabad?!
To: anan...@yahoo.co.uk


Please forward it to whoever may be interested:

In the middle of all the protests going on in Hyderabad, one small single column item in Andhra Jyothi today is making me shudder. Greater Hyderabad Municipal Corporation(GHMC) needs Rs 600 crore (about $ 350 million) to put up as its share to augment the federal grants for urban renewal under Jawaharlal Nehru Urban Renewal Mission(JNNURM). The GHMC does not have the money. Its proposal to augment its income through a hike in property tax has met with strong opposition. So GHMC can only borrow the money from the market. The state government of Andhra Pradesh has told GHMC the municipal corporation of its own capital that it can not stand guarantee for loans taken it. (This of course on top of the fact that the state government has actually not been able to release its own share of the JNNURM funds to the GHMC). But the state government has assured that it will not stand in the way if GHMC wants to borrow money on its own. The Government Order for this has just been issued. Without investor confidence, without state guarantee, the only way Hyderabad will be able to borrow money from the market would be by mortgaging its assets. I have no idea what they are going to mortgage but I know this much: Regardless of whether or not the agitation for bifurcation of the state wins, we have a city government that will be as close to suicide as the farmers in its hinterland in the near future. Hyderabad is a financial liability for itself even while private interests can go on looting its common resources !! Do you want this city ? 





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Srisainivasam Flat 503
12-13-528/529
Nagarjunanagar 
Tarnaka Street No. 14, Lane No. 13
Hyderabad 
India 500017





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Dr. C. Ramachandraiah
Professor in Urban Studies
Centre for Economic and Social Studies (CESS)
Begumpet, HYDERABAD - 500016, India
Mobile: 94400 35405

To know our activities against Hyderabad Elevated Metro and download some documents, please visit  www.citizenhyderabad.in 

“There may be times when we are powerless to prevent injustice, but there must never be a time when we fail to protest”, - Elie Wiesel (Nobel Peace Prize Lecture, December 11, 1986).



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