Will BMC break the bank for big infra play?
Updated On: 01 February, 2024 02:16 AM IST | Prajakta Kasale
With no new revenue sources and traditional sources drying up, this will be Mumbai’s second budget without elective representatives
The BMC may also prioritise cleanliness drives and pollution mitigation efforts. File pic/Shadab Khan
Keeping the election year in mind, the country’s richest civic body, the Brihanmumbai Municipal Corporation (BMC), is likely to focus on its massive infrastructure projects despite its declining income. Ongoing projects like road concreting, bridge construction, the desalination project, sewerage treatment plants, Goregaon-Mulund Link Road, and the Versova to Bhayandar coastal road will receive significant funding. The BMC may also prioritise cleanliness drives and pollution
mitigation efforts.
The civic body has Rs 86,000 crore in fixed deposits (FD). With no new revenue sources and declining traditional ones, the BMC administrator will present the second budget on Friday without elected representatives. The BMC couldn’t implement the proposed 8 per cent hike in water bills, and property tax bills remain unissued. Solely reliant on compensation in lieu of octroi from the state government and fixed deposits, last year, the BMC incurred expenses of R52,619 crore, withdrawing Rs 18,746 crore from fixed deposits. This year, similar expenses are anticipated.
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