The TTD is wilting under the pressure of its growing expenditure, if one goes by its annual budget.
Though the estimates of the 2017-18 budget reveal an envious income of ₹2,858.48 crore for the ensuing financial year, the picture is not as rosy as presented in the budget. While the numerals reflect a stalemate in regard to the income received through various sources, including the temple hundi, the expenditure side shows a significant increase in all the budgetary items.
The steep decline in the income earned by way of interest on investments and abnormal increase in the expenses is causing concern to the TTD, which is already battling skyrocketing prices of essential commodities needed for making the daily ‘prasadam’.
Slashing of interest rates from 5.5% to 4.25% by the RBI on fixed deposits of ₹10 crore and above during November last severely impacted the prospects of the income of the TTD, which has staggering deposits worth about ₹10,500 crore with various nationalised banks.
While the TTD spends a whopping ₹350 crore towards procurement of ingredients required for preparing the famous laddu, the income earned by way of its sales is a paltry ₹165 crore. The drain of ₹185 crore on the exchequer is likely to widen during the ensuing financial year with no let-up in the soaring prices of essentials.
Funds for HDPP
Alleged squandering of funds in the name of grants and contributions to the Hindu Dharma Prachara Parishad (HDPP) and other allied projects is also compounding the problems of the management which is trying hard to strike a balance between its income and expenses.
The allocation of ₹192 crore for these projects in the ensuing financial year, up from ₹162 crore (2016-17), speaks about its futility.
This apart, the TTD has always remained a sitting duck whenever the ruling party Ministers, legislators and politicians aspire to construct a marriage hall or seek funds for renovating temples in their areas.
This is clearly evident in the funds allocated for engineering works that has gone up from ₹160 crore to ₹200 crore for 2017-18.
Experts opine that it is high time the TTD adopted a strict fiscal discipline eliminating wasteful expenditure and implemented a stringent economic policy failing which it will land in deep financial troubles.
