Tirupati Balaji to Earn Rs 2600 Crores in Revenue; Seeks Higher Interest for Gold

Tirupati Tirumala Venkateswara Swamy Temple, the world’s richest Hindu, will get richer by Rs 2600 crore revenue this year. The temple is expected to earn about Rs 2600  crore in earning this year, according to sources from the  Tirumala Tirupati Devasthanams (TTD) trust,  which manages the hill temple.   The temple attracts 80,000 devotees on an average on normal days and witnesses about 130,000 foot falls on an average during the festival days. Most of the revenue to the temple comes in the form donations from the devotees,  and the board also has other income sources such as the sale of seva tickets, prasadams, the sale of hair  and interest from its bank accounts among others.

This year board is expecting the donations from devotees alone to garner about Rs 1000 crore and another Rs 800 crore comes from interest for its cash and gold deposits. Tirupati Balaji gets donations of different kind and denominations from his devotees every year. Offerings from lord’s devotees include cash, jewellery, precious metals, land deeds and even share certificates at times.

TTD to Seek Higher Interests for its Gold Deposits

The TTD’s Investment Committee has advised the board to seek higher interest rate for its gold deposits. TTD which has huge reserves of gold deposits the same with banks and prefer to receive returns from the deposits in the form of gold. The trust said it is happy with the interest rate it is currently receiving, but would prefer to go with banks which offer highest interest rate for its future deposits.

Last month, TTD had said it is planning to deposit 7.5 tonnes of gold  under the central government’s Gold Monetisation Scheme (GMS).  The temple which had recently deposited 1.3 tones of yellow metal in Punjab National Bank under the same scheme, said it is ready to transfer all of its gold to the GMS scheme.

 

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