Even the richest are shaken by the lockdown

Tirumala Tirupati Devasthanams (TTD), the world’s richest temple trust that runs the Sri Venkateswara temple at Tirumala, which has lost Rs 400 crore in revenue during the lockdown, now does not have enough cash to pay salaries and meet daily expenses. Ofcials said the trust has already spent nearly Rs 300 crore towards salaries, pensions and other fixed expenses during the lockdown so far and was deliberating ways to resolve the crisis without having to touch the eight tons of gold reserve and Rs 14,000 crore fixed deposits.

The temple has been closed in view of the lockdown for the past 50 days and it’s not clear when the temple will be reopened for public worship. ”TTD is obligated 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 a fixed annual expenditure of nearly Rs 2,500 crore under diferent heads,” said TTD chairman YV Subba Reddy. Reddy said while the average monthly income at Tirumala stood around Rs 200-220 crore, there has been no revenue since the lockdown as the temple has been closed to devotees. TTD approved annual budget of over Rs 3,000 crore

Ofcials said the temple attracts 80,000 to 100,000 devotees daily, while the rush increases during festival seasons. Though devotees are not allowed, all daily and weekly rituals and festivals are being observed without any deviations as per the prescribed agamas. The TTD had decided on an annual budget of Rs 3,309.89 crore for the financial year 2020-21. But from March 20 it has

sufered an estimated loss in hundi collections alone of Rs 150-175 crore. Other revenues in the form of sale of Jdarshan tickets and arjitha sevas, prasadams, accommodation and donations have also

Jdried up. With salary and other allowances for 2020-21 pegged at Rs 1,385.09 crore, TTD has to shell out approximately Rs 120 crore towards it every month even during the lockdown. In addition, the TTD has to extend financial support in the form of grants of nearly 400 crore to SVIMS, BIRRD and other healthcare institutions run by it.

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