COVID-19 Despite Rs 400 crore loss TTD confident of paying full salaries for three months

    Tirupati, May 11 (PTI) A Rs 400 crore revenue loss
notwithstanding, the Tirumala Tirupati Devasthanam (TTD) which
governs the country's 'richest' shrine, Sri Venkateswara
Temple here, has not implemented a pay cut for its nearly
23,000 staff and is confident of paying full salaries for the
next two to three months, a top official has revealed.
    The surge of devotees may have waned following the
nationwide lockdown and their cash offerings along with it,
but the shrine is banking on other sources of income like
interest on fixed desposits to feed its 8,000 permanent
employees,besides the 15,000 outsourced staff at this hill
shrine located on the holy Tirumala.
    TTD Chairman Y V Subba Reddy said the board has been
incurring a loss of Rs 200 crore per month, ever since the
temple was closed after the Centre imposed a nationwide
lockdown on March 24 in a bid to prevent the spread of
COVID-19.
    Incidentally, TTD had implemented entry curbs to the
temple from March 20 itself as a precaution, he said.
    "Despite severe financial constraints, TTD would be in
a position to manage (full) salary payments to all its
permanent staff and outsourced workers, and pensioners for the
next two or three months," Reddy told PTI.
    The TTD Board is expected to meet its requirements
from alternative sources of income like fixed desposits, which
yield a whopping Rs 700 crore annual interest, a temple
official said.
    It has Rs 12,000 crore in FDs in various nationalised
banks which ensure the said returns.
    He added the board had in February approved budget
proposals envisaging a total revenue of about Rs 3,310 crore
during the fiscal year and of this cash offerings made by
devotees were projected to be Rs 1,351 crore.
    About 2.5 crore devotees throng the temple annually,
the official added.
    Though the 2000 year-old shrine remains closed in
line with the national lockdown, all rituals are being
conducted uninterruptedly and flawlessly by the priests, Reddy
said.
    Besides being involved in many charitable activities,
TTD has several educational institutions and health care
facilities under its control to serve the needy public and
these aspects are also being taken care of, Reddy added.
    The Centre had earlier extended lockdown, scheduled to
end on May 4, by another two weeks. PTI CORR SA BN
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(This story has not been edited by THE WEEK and is auto-generated from PTI)