Mumbai: BMC FDs Fall ₹13,785 Crore In 5 Years; Congress Seeks White Paper On ₹2.44 Lakh-Crore Commitments

Mumbai, October 15, 2026: The Brihanmumbai Municipal Corporation’s (BMC) financial management must come under scrutiny following a decline of ₹13,785 crore in its fixed deposits (FDs) over five years, even as the civic body faces financial commitments linked to infrastructure projects worth approximately ₹2.44 lakh crore, said Ashraf Azmi, Congress group leader in the BMC.

The Congress has demanded a comprehensive white paper on the civic body’s financial position and urged Mayor Ritu Tawde to convene a special meeting of the municipal corporation to discuss the issue and ensure accountability. The demand comes amid questions over the long-term sustainability of the civic body’s spending plans.

According to figures cited by Azmi, the BMC’s fixed deposits declined from approximately ₹91,690 crore in 2021 to ₹77,905 crore in the latest reported figures. The deposits reportedly fell by ₹3,544 crore in eight months, from ₹81,449 crore in February 2026.

“The allegation is not that the money has disappeared. We are demanding accountability,” Azmi said, calling for clear answers on the approvals granted, the budget provisions under which the money was spent and the schedule for meeting future contractor payments.

He added that the administration must explain how it intends to honour its financial commitments without compromising the civic body’s financial stability or burdening future generations.

The decline has raised questions about the utilisation of civic funds, particularly as the administration prepares to meet substantial payments arising from infrastructure projects undertaken or committed to during the roughly four-year administrator-led period.

₹28,000 Crore In Annual Payments Projected

According to the figures cited in Azmi’s statement, the BMC is expected to pay contractors approximately ₹8,000 crore in the current financial year. Annual payments could rise to around ₹28,000 crore over the following seven to eight years, although the administration has yet to provide a detailed, project-wise payment schedule in the information cited by the Congress leader.

The projects include the Versova-Dahisar Coastal Road, the Goregaon-Mulund Link Road (GMLR), the cement-concrete roads programme, seven sewage treatment plants (STPs), water tunnels and major water-supply infrastructure projects.

While acknowledging the importance of these projects for Mumbai’s development, Azmi has questioned how the civic body will finance the commitments without weakening its financial position or affecting essential municipal services.

He has sought a detailed disclosure of outstanding contractor bills, instalments due under project agreements and the projected cost of completing ongoing works. He has also called for clarity on how the BMC intends to meet routine expenditure, including salaries, pensions and maintenance costs, alongside its infrastructure obligations.

Congress Seeks Transaction-Wise Account Of FD Decline

The Congress has also asked Municipal Commissioner Ashwini Bhide to issue a white paper explaining the year-wise and fund-wise movement in fixed deposits, including withdrawals, transfers between funds and other financial transactions.

It has sought details of expenditure approvals, relevant budgetary provisions, any supplementary or revised sanctions, outstanding project liabilities, and estimates of the BMC’s income and expenditure in the coming years.

Azmi has also questioned whether the decline in deposits reflects actual expenditure, transfers to other accounts or a combination of financial transactions, and has called for documentary evidence to establish how the funds were used and who authorised the transactions.

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Mayor Urged To Convene Special Meeting

In a letter to the mayor, Azmi has sought her intervention to convene a special meeting of the municipal corporation, enabling elected representatives to scrutinise the administration’s financial decisions and question the officials concerned.

He has argued that the scale of the infrastructure commitments and the reported decline in fixed deposits warrant a transparent assessment of the BMC’s financial health.

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