The budget document of the Brihanmumbai Municipal Corporation (BMC) on Saturday informed that the country's richest civic body would tap into some of its fixed deposits worth over Rs 88,000 crore for development projects, the move coming weeks after Prime Minister Narendra Modi had spoken here about "funds being locked in banks".

The BMC on Saturday presented a Rs 52,619.07 crore budget for the metropolis, with commissioner Iqbal Singh Chahal saying it was the "first time in BMC's history that the budget estimates have crossed Rs 50,000 crore".