The BMC does not gave a major source of income and the expenditure is being done from loans. Is it a bad sign for the corporation?
We have a surplus amount this year due to major revenue through premiums under the Development Plans, which is expected to be Rs 14,750 crore by March end. We kept it in fixed deposits this year which increased our FDs from Rs 80,000 crore to Rs 87,000 crore within a year. We received Rs 1,205 crore on interest on these FDs, more than what we had estimated, Rs 905 crore. We are taking internal loans from these FD’s.

The premium revenue increased by giving a concession of 50 per cent. Is it not a loss to the BMC?
There are several development projects which were non-viable due to huge premiums. The state government gave a push to such projects by cutting charges by 50 per cent. If the concession was not given, the projects would have not started and the BMC would not have got the revenue even in the future.