TTD IS FACING CASH CRUNCH TO PAY STAFF SALARY
Tirumala Tirupati Devasthanams official said that they have already spent 300 crores in salaries and pensions and other fixed expenses. They have a staff of around 23000 people.
Trust official also said now they are running lack of cash to pay the salaries to their staff and to handle running expense Due to lock-down.
They have faced a loss of almost 400 crores in revenue which they from devotees. It was estimated from the financial budget which shows around 200-220 crores of income on a monthly basis. Trust official also said that daily 80000 to 100000 devotees visit the temple of Sri Venkateshwara regular basis and it will increase during festival seasons.
As said by TTD Chairman Mr YV Subba Reddy " TTD is Obliged to pay salaries and pensions and has a set of other fixed expenses which it has to incur irrespective of its revenues hitting rock bottom. TTD has fixed annual expense of nearly Rs. 2500 crore under different heads".
TTD has around a Fixed deposit of around 14000 crores and 8 tonnes of gold reserve. The official is finding ways to solve the problem without touching this as its all are of devotees who put in the temple with faith.
As still official are not aware how much time lockdown will continue.. they are facing the loss of revenue in form prasadams, accommodations, darshan tickets, sevas etc..
They have an annual budget of around 3380 crores for the financial year 2020-21 which was disturbed due to lock-down, For this budget revenues are generated from different sources like cash corpus in Hundi, selling of hair, interest income on fixed deposit and also golds offers from devotees.
Andhra Pradesh CM Mr Y.S. Jagan Mohan Reddy has clearly said that we would not touch the deposits and gold reserve as it is a sentimental issue of devotees.
Right now they have already paid a salary and other variables for the month of March and April they also have some reserves to pay salary and for running fixed expense for the May but for June they can't say. let hope the lord will not allow the situation to come to that stage.