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BMC met budget due to high premiums, but what next?
Updated On: 03 February, 2022 07:23 AM IST | Mumbai | Prajakta Kasale
In its budget today, BMC expects to drive forward projects like Coastal Rd, east-west connectors
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The expenditure on the Coastal Road project is likely to increase further. File pic
The BMC, the richest civic body in the country, found an instant boost from building premiums this year which was around 50 per cent over the estimated income for 2021-22. This made way for assistance to big-ticket projects like the Coastal Road, city roads and bridges, Goregaon Mulund Link Road and desalination, especially ahead of the civic election.
As the BMC election, which generally takes place every five years in February, is yet to be announced, the Shiv Sena-led civic body will get a second chance to present the election budget. Last year, the BMC announced a Rs 39,038-crore budget with an estimated income of Rs 28,308 crore through various sources. Apart from the compensation from the state for discontinued Octroi at Rs 10,583 crore, which is a fixed source, other sources did not generate as much.
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