MMRDA announces Rs 48,072.57 cr budget; metro expansion, growth hubs planned

The Mumbai Metropolitan Region Development Authority MMRDA on Monday unveiled its surplus budget for 202627 with a total outlay of Rs 4807257 crore with plans for metro expansion growth hubs and climateresilient MumbaiThe announcement marks its first surplus budget since 201718With estimated receipts of Rs 4807257 crore and proposed expenditure of Rs 4807240 crore the authority projects a surplus of Rs 17 lakh reflecting a decisive financial turnaround an official statement saidIt said that this surplus follows three years of recovery after a Rs 7468 crore deficit in 202425 signalling fiscal stability and improved revenue mobilisation through land monetisation the Urban Transport Fund projectlinked revenues and institutional financingThe budget demonstrates a strong developmentfirst approach with Rs 4202614 crore mdash 87 per cent of the total expenditure mdash allocated to infrastructure projects the statement saidMaharashtra Chief Minister Devendra Fadnavis said the budget reflects global investor confidence and positions Mumbai as a modern investmentready regionThe budget is 5857 per cent higher than the revised estimate of Rs 3031618 crore for 202526 highlighting MMRDArsquos commitment to largescale urban development the statement saidDeputy Chief Minister and MMRDA Chairman Eknath Shinde noted that the 87 per cent allocation demonstrates accountable governance under the Growth Hub frameworkMega infra projects and underground corridors plannedThe statement said that the MMRDA has planned mega infrastructure project and underground corridors including Highcapacity underground tunnels are being developed to decongest the city Orange GateMarine Drive Coastal Road Tunnel Rs 1250 crore ThaneBorivali FourLane Tunnel Rs 302951 crore Mumbai Integrated Tunnel BWSLBKCHSRT2 Rs 1189 croreThe total allocation is Rs 554351 crore official statement saidArterial roads and expresswaysThe budget supports multiring roads and elevated corridors to redistribute traffic WorliSewri Elevated Corridor Rs 93607 crore MumbaiVadhavan Expressway Corridor Rs 2000 crore Eastern Freeway Extensions Rs 110675 croreIt said that the total allocation for these are Rs 1281653 croreMetro network expansionMMRDA continues Indiarsquos largest metro expansion project Metro Line 4 WadalaKasarvadavali Rs 363071 crore Metro Line 5 ThaneBhiwandiKalyan Rs 130930 crore Metro Line 6 Swami Samarth NagarKanjurmarg Rs 240778 crore The total allocation is Rs 1383888 crore in the budget for these the statement saidSocial infrastructure and sustainabilityThe MMRDA has also planned projects for social infrastructure and sustainability these include Slum Rehabilitation and Housing Rs 73133 crore Water Supply amp Regional Sustainability Rs 98087 crore Climate Resilience amp Green Infrastructure Rs 250 crore Iconic Memorials Dr Babasaheb Ambedkar Balasaheb Thackeray Rs 57150 crore IT and Digital Governance Rs 23534 croreGrowth hubs and economic decentralisationUnder the Mumbai 30 initiative Rs 4000 crore is allocated to the KSC New Town Growth Hub with additional funding for Raigad Pen and Kharbav business parks supporting structured urban expansion employment creation and global investmentRevenue and fiscal strategyMMRDArsquos revenue streams include Land Sale Rs 1117795 croreUrban Transport Fund Rs 636842 crore Borrowings Rs 2371116 crore Government Grants and TDR Rs 118914 crore Ground Rent and Interest Rs 166419 croreThe budget reflects disciplined fiscal planning debt management and structured capital mobilisation the official statement saidA turning point for MMRIt said that the 202627 budget combines fiscal prudence with massive infrastructure deployment at MMR signalling Financial stability after years of deficits Acceleration of mobility corridors Implementation of Mumbai 30 and Growth Hubs Strengthened water and climate resilience Decentralised economic growth