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Business News/ News / India/  BMC presents 52,620 cr budget for FY 2023-34, no fresh tax levied for Mumbaikars
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BMC presents ₹52,620 cr budget for FY 2023-34, no fresh tax levied for Mumbaikars

This is the first time, the budgetary estimates crossed the ₹50,000 crore mark.

Mumbai: BMC Commissioner Iqbal Chahal addresses the media after presenting the BMC budget 2023-24 at BMC headquarters in Mumbai, Saturday, Feb. 4, 2023. (PTI Photo) (PTI)Premium
Mumbai: BMC Commissioner Iqbal Chahal addresses the media after presenting the BMC budget 2023-24 at BMC headquarters in Mumbai, Saturday, Feb. 4, 2023. (PTI Photo) (PTI)

The Brihanmumbai Municipal Corporation (BMC) on 4 February presented 52,619.07 crore budget for the year FY 2023-24 and said that no fresh tax was levied for residents of Mumbai.

According to details, the 52,619.07 crore budget will have emphasis on health, education and infrastructure. This is the first time, the budgetary estimates crossed the 50,000 crore mark. This time, the budgetary estimates are 14.52 per cent more than the 2022-23 amount of 45,949 crore.

Weeks after Prime Minister Narendra Modi had spoken about "funds being locked in banks", the BMC said that it would tap into some of its fixed deposits (FDs) worth more than 88,000 crore for development projects.

ALSO READ: Mumbai: BMC presents 52,619 crore Budget. Check key announcements

"This is the first time in the history of the country's richest civic body that the budgetary estimates for FY 2023-24 have crossed the 50,000 crore-mark and the capital expenditure is more than 50 per cent," BMC commissioner and administrator Iqbal Singh Chahal said.

As per the BMC Budget document, the budget estimates for the financial year 2023-24 are proposed at 52,619.07 crore, which exceeds the budget estimates for 2022-23, that is 45,949.21 crore, by 14.52 per cent.

This is also after 1985, that the Mumbai civic body presented the budget to an administrator as the five-year term of corporators ended last year.

Commenting on the BMC Budget, BJP called it the budget "truly for Mumbaikars" whereas Shiv Sena (UBT) leader Aaditya Thackeray termed it "pro-contractor" that will lead to the financial bankruptcy of Mumbai.

The total expenditure for health is estimated at 6,309.38 crore, which is 12 per cent of the total budget, while the same for primary education is 2,319.37 crore and 10,015.92 crore for Water supply and sewage disposal, as per the budget documents.

A provision of RS 3,545 crore for the Coastal Road Project, which is expected to be completed by this year-end, 2,825 crore for traffic operations and roads, 800 crore for BEST undertaking as against 1,382.28 crore in FY 22-23 and 227.07 crore for Fire Brigade as against 300 crore in FY 22-23 has been made in the latest BMC budget.

Among others, the BMC in its budget announced at 12 new projects, including the construction of footpaths on either side of roads with 9-metre width, digitisation of classrooms in civic-run schools, air quality monitoring, and family health scheme.

Aaditya Thackeray tweeted that the "unconstitutional state Govt and the BMC governed by the administrator has been showing moral and legal bankruptcy for 6 months". He demanded the BMC to explain the "hiked expenses in the pro contractor" budget.

The Aam Aadmi Party said the budget is “an annual ritual" aimed at throwing big numbers but utilisation of funds year after year reveals a "sordid saga of ineptitude and incompetence".

"A record 18,746 crore will be withdrawn from BMC's reserve fund, which is unprecedented. This budget is not for the aam aadmi but for the contractor lobby," it said.

With PTI inputs.

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Published: 04 Feb 2023, 11:50 PM IST
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