The BMC wants to learn how cities worldwide are generating revenue to fund their administration and urban services. The civic body has appointed a consultant to research global revenue models and suggest similar sources before next year’s budget presentation to help boost its dwindling revenue.

Though still considered the wealthiest municipal corporation in the country, the Brihanmumbai Municipal Corporation (BMC) is struggling to bridge the gap between revenue and expenditure. For the current financial year, the civic body sanctioned a budget of Rs 60,000 crore but has to withdraw Rs 22,500 crore from fixed deposits to cover project costs. The fixed deposits have depleted by Rs 10,000 crore in just two years, and projects worth Rs 2,00,000 crore have already been sanctioned. As a result, the BMC has appointed a consultant to explore more revenue sources to support its growing expenditure.