Mumbai: BMC's Staggering Rs 59,954.75 Crore Budget Signals Unprecedented Ambitions

The Brihanmumbai Municipal Corporation (BMC), renowned as India's wealthiest civic body, revealed its budget for the fiscal year 2024-25, totaling a substantial Rs 59,954.75 crore.

This budget marks a noteworthy increase of 10.5 per cent compared to the previous fiscal year's budget of Rs 54,256.07 crore.

Presenting the budget to the BMC administrator, municipal commissioner Iqbal Singh Chahal, the civic administration highlighted the significant growth in financial allocations for the upcoming year. Chahal, appointed as the BMC administrator by the state government after the conclusion of the five-year term of corporators in March 2022, received the budgetary estimates for the next fiscal cycle.

"The budget estimates for the financial year 2024-25 are proposed at Rs 59,954.75 crore, which exceeds the budget estimates of 2022-23, that is Rs 54,256.07 crore, by 10.5 per cent," as stated in the official budget document.

This development signifies a rare occurrence, with the BMC administration presenting the budget to an administrator for the second time since 1985. The shift in presentation dynamics follows the completion of the five-year term of corporators, prompting the state government to appoint an administrator to oversee the municipal affairs.

The substantial budget for the upcoming fiscal year underscores the BMC's commitment to addressing the diverse needs and demands of the bustling metropolis, reflecting a strategic approach towards urban development and civic welfare, reports PTI.