The actual income of one of the richest civic bodies in India seems to have shrunk. The BMC has been able to collect only 20 per cent of its estimated income from its sources apart from compensation of GST till December. While BMC hasn’t distributed property tax bills yet, fixed income from water and sewerage charges has also reduced. As it has given incentives to the construction sector, development charges will not rise marginally even in the next 3 months.

 
Even BMC's fixed deposits have shrunk for the first time in a decade. The administration had an idea of the difficult situation following the COVID-19 pandemic and had started to curtail costs from all the departments, except the coastal road and health departments. While there are still three months left for the financial year, and the BMC is going to bank on property tax, the effects will be seen next year too. The preparation by the BMC for budget (2021-22), which will be presented in the first week of February is in the final stage. All the departments had been asked to curtail requirements by at least 20 per cent against the background of revenue loss this year.