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The Brihanmumbai Municipal Corporation (BMC) unveiled its budget for the fiscal year 2024-25 at its headquarters in Mumbai on Friday, signaling ambitious plans for the city’s development. The total budget announced for the upcoming financial year amounts to Rs. 59,954 crores, reflecting a notable increase of 10.5% compared to last year’s allocation of Rs 54,256.07 crore.
With a focus on enhancing infrastructure, services, and quality of life for residents, the BMC aims to achieve sustainable growth and development across Mumbai. The estimated revenue income for the fiscal year 2024-25 is proposed to be Rs. 35,749.03 crore, indicating an increase of Rs. 2,459 crore compared to the budget estimates of the previous year. Additionally, a surplus budget of Rs. 58.22 crore has been announced, underlining the BMC’s commitment to fiscal responsibility.
The budget presentation saw the participation of additional municipal commissioners, who presented the budget to BMC administrator Iqbal Singh Chahal. Since March 2022, Chahal has been serving as the BMC administrator following the conclusion of the corporators’ term.
Traditionally, the municipal commissioner presents the budget to the BMC’s standing committee. However, due to the conclusion of the corporators’ term, this is the second consecutive year that the budget is being presented to the administrator. In a departure from convention, additional municipal commissioner (projects) P Velarasu presented the budget estimates for the financial year 2024-25 to Chahal at the civic headquarters in south Mumbai.
Furthermore, additional municipal commissioner (eastern suburbs) Ashwini Bhide presented the education department’s budget estimates for the next fiscal to the administrator-cum-commissioner, highlighting the comprehensive approach to budgetary planning and allocation.
The budgetary allocation for the richest civic body in the country underscores the BMC’s commitment to addressing the evolving needs and challenges of Mumbai’s dynamic urban landscape. With a focus on inclusive growth and sustainable development, the BMC’s budget for the fiscal year 2024-25 sets the stage for transformative initiatives aimed at enhancing the city’s infrastructure, services, and overall quality of life for its residents.
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