BMC Budget 2024: Development Projects Having CM Shinde's Imprint Bag Major Share In Allocated Funds

BMC Budget 2024: Development Projects Having CM Shinde's Imprint Bag Major Share In Allocated Funds

The budget outlay is 10.50 percent more than the last budget with a modest surplus of Rs 58.22 crores.

Kalpesh MhamunkarUpdated: Saturday, February 03, 2024, 11:50 AM IST
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BMC Budget 2024: Development Projects Having CM Shinde's Imprint Bag Major Share In Allocated Funds |

Mumbai: BMC commissioner and administrator Dr. Iqbal Singh Chahal on Friday presented the budget for FY 2024-25 worth Rs 59,954 Cr which has a prominent imprint of chief minister Eknath Shinde. Most of the projects suggested by CM Shinde finds prominent mention in the budget. No increase in existing taxes has been proposed.

In the absence of corporators, whose term ended in March 2022, additional commissioners Ashwini Bhide and P Velarasu presented the budget papers to Chahal, who, in turn, placed them before mediapersons.

The budget outlay is 10.50 percent more than the last budget with a modest surplus of Rs 58.22 crores. Strangely enough, the civic body has spent only 40.86 per cent of its current budget of 2023-24 i.e. amount Rs 10,343.38 crores till December 2023.

Chahal has allocated Rs 28,121 crores for revenue expenditure and Rs 31,774 crores for capital expenditure. The budget has focused on health, infrastructure, cleanliness and pollution control. The commissioner has made a huge provision Rs 31,774.59 crs for infrastructure projects like the coastal road project , including Versova- Dahisar- Mira road Rs 4,250 cr, Sewerage treatment plants (STPs) Rs 4,090 cr, water supply Rs 3,420 cr and Rs 1,870 cr for the Goregaon Mulund Link road project.

The BMC, which has a statutory duty to provide education, has made a provision of Rs 3497.82 crs towards education, the health budget is Rs 7,191.13 crores which is 12 per cent of the total budget. Apart from that the BMC has allotted a grant of Rs 928.65 cr to the BEST undertaking.

All the projects and programs which CM Shinde wanted to be implemented in Mumbai are included in the budget. For example, Rs 500 cr has been set aside for the CM's Zero Prescription policy in all BMC-run hospitals. Under this, all medicines will be provided free by the civic hospitals. A provision of Rs 111.83 crores under the Dharamaveer Anand Dighe Divyang Financial Assistance Scheme for handicapped people and Rs I lakh each for 1,600 women self-help groups. Anand Dighe was the political mentor of CM Shinde.

About five lakh bamboo treees are going to planted at open spaces, gardens and alongside the Eastern express highway under the Bal Thackeray Urban Greening Project. Recreational centers for senior citizens deep cleaning drives and Mumbai beautification projects will be continued in the new financial year.

The estimated revenue income for FY 2024-25 is proposed to Rs. 35,749.03 cr which is Rs. 2,459 crore more than the budget estimates of 2023-24. The major sources from which estimation of revenue are grant in aid on account of compensation in lieu of octroi Rs 13,331.63 crores, property tax Rs 4,950 crores, income from development plan department Rs 5800 crores, interest from Investments Rs 2,206.30 crores, water and sewerage charges Rupees Rs 1923.19 crores, Rs 11,627.54 crore will be drawn from the Internal Temporary Transfer (ITT) including Fixed Deposits.

Chahal has mentioned that BMC has fixed deposit worth Rs 84,824.07 crores out of that Rs 39064.86 crores are committed liability like provision for provident fund, retirement fund and other unavoidable liability. The remaining Rs 45759.21 crores has now been linked to various infrastructure projects to improve the standard of infrastructure for citizens in Mumbai.

Like last year's budget this year too mentioned a large chunk of FDs will be withdrawn for civic work rather than increasing taxes.

Chahal Sheds Light On Issues Related To BMC's Revenue

It has been criticised that around two lakh crores of infrastructural projects are going on in Mumbai and the BMC doesn't have sufficient money to keep them going. Chahal replied to that by stating that the civic body has appointed private firms like KPMG, Deloitte and others to study and suggest new sources of revenue. He further stated that the BMC has Rs 35 lakh crore worth of assets but was getting revenue of only Rs 500 crores annually from them.

The BMC will enter into redevelopment projects on its own properties and generate revenue. It has also demanded an increase in its share of revenue from additional and fungible FSI in building construction projects. The corporation will also construct a transport hub at Dahisar and Mankhurd octroi posts and aim to generate Rs 3000 crores yearly.

The administration has announced Mumbai Mahila Suraksha Abhiyan for the safety of women. About Rs 100 crores have been kept aside for this campaign which will include a helpline and app where women can register their complaints.

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