Mumbai civic body presents budget of Rs 74,427 crore for 2025-26

The Brihanmumbai Municipal Corporation BMC considered the richest civic body in the country on Tuesday presented its budget of Rs 74427 crore for the year 202526The additional municipal commissioners presented the BMC Budget 2025 to BMC Commissioner Bhushan Gagrani who is the stateappointed administrator of the civic body at the BMC headquarters in MumbaiThe civic body is under an administrator since the term of the corporators ended on March 7 2022The budget estimate for FY 202526 is proposed at Rs 7442741 crore which exceeds the budget estimates of 202425 ie Rs 6518079 crore by 1419 per cent the document readsFor the third year the budget was presented to the administrator instead of the usual practice of the municipal commissioner presenting the budget to the standing committeeAccording to the BMC Budget 2025 document the budget looks at fiscal discipline and sustainability with emphasis on revenue augmentation enhancement of Infrastructure and Services and Urban Mobility Other key highlights of the budget include strengthened Healthcare Infrastructure efficient Water and Sewerage System quality Health and Education System health Facilities agenda on climate Action focus on Solid Waste Management Projects and flood mitigation Enhanced Open Spaces and GreeneryThe BMC also presented an annual education budget of Rs 395564 crores for the Financial Year 202526 The civic body has augmented funds allocated for education by approximately Rs 630 crores compared to last FYs budget revised estimate of Rs 332155 croresThe civic body announced assessment of commercial units in slum area as its new source of income The budget document states that there are around 250 lakh slums in Mumbai A significant number of these slum areas at least 2037 ie 50000 slums are being used for commercial purposes such as small and large industries shops godowns hotels etc As BMC provides infrastructure facilities to these establishments it is necessary to recover property tax by assessing these commercial units Also this revenue will help to provide better services and infrastructure to slum dwellers Accordingly commercial properties in slum areas are being assessed and it is expected to generate a revenue of 350 crore from the sameMeanwhile the BMC Budget 2025 has proposed to raise Rs 636448 crore by way of Internal Temporary Transfer ITT in the revised estimates 202324 However considering the total expenditure for the year 202324 there was earlier no need to raise funds through ITT But considering the overall current financial position it is necessary to raise sufficient funds for our projects till March 2025 and beyond Therefore it is proposed to raise funds of Rs 1211947 crore and Rs 1669978 crore in revised estimates 202425 and budge estimates of 202526 respectively through ITTLast year the BMC had tabled a budget of Rs 5995475 crore for 202425 which was a 105 per cent rise from the previous fiscal