Navi Mumbai Municipal Corporation commissioner Rajesh Narvekar on Friday approved the budget for 2023-24 of the city, the highlight of which is the absence of any new tax in what is most likely election year for the civic body.

As per the budget, income of Rs 4,925 crore is expected, while the expenditure will be an estimated Rs 4,922.50 crore, a marginal surplus of Rs 2.50 crore, a civic official said.