BMC Presents Its Budget For FY 2024 At Civic Headquarters In Mumbai; 10.5% Higher Than Last Year

BMC Presents Its Budget For FY 2024 At Civic Headquarters In Mumbai; 10.5% Higher Than Last Year

The budget of the richest civic body in the country stood at Rs 52619.07 crore for the year 2023-24, which was 14.5 per cent more than the previous fiscal.

Rahul MUpdated: Friday, February 02, 2024, 12:48 PM IST
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BMC Presents Its Budget For FY 2024 At Civic Headquarters In Mumbai; 10.5% Higher Than Last Year |

Mumbai: The Brihanmumbai Municipal Corporation (BMC) presented its budget for the fiscal 2024-25 on Friday at its headquarters in Mumbai. The total budget announced for the fiscal year 2024-25 is Rs. 59,954 crores. This amount is 10.5% more than last year's total budget allocation of Rs 54,256.07 crore.

The estimated revenue income for the financial year 2024-25 is proposed to Rs. 35,749.03 crore which is Rs. 2459 crore more than budget estimates of 2023-24. A Surplus budget of Rs. 58.22 crore is announced.

Like last year, additional municipal commissioners presented the budget to civic commissioner Iqbal Singh Chahal, who is functioning as the BMC administrator since March 2022 after the term of corporators ended.

Generally, the municipal commissioner presents the budget to the BMC's standing committee, but as the term of corporators came to an end on March 7, 2022, this is the second year when the civic body's budget is presented to the administrator.

Outstanding dues from various departments of state government is said to be around Rs. 8936.64 crore. Estimated Capital expenditures, which means proposed spending on various projects is announced to be Rs 31,774.59 crores for the year 2024-25.

The BMC will be appointing a real estate consultant to implement a road map for revenue generation from BMC's lease hold/tenanted properties to the tune of Rs. 10,000 crores annually.

Health budget has seen a growth by 14 per cent for the financial year 2024-25. The estimated budget for 2023-24 was Rs 6,309 which has now increased to Rs 7,191 crore.

BMC estimated Rs. 6,000 crore from property tax in 2023-24 which has now revised to Rs. 4,500 crores fall by Rs. 1500 crore. The BMC has proposed to raise a fund of Rs. 11,627.54 crore through Internal temporary transfer during the financial year 2024-25.

BMC's Statement Ahead Of Budget

In a statement on Wednesday, the BMC informed that this year additional municipal commissioner (projects) P Velarasu will present the budget estimates for the financial year 2024-25 to Chahal at the civic headquarters in south Mumbai on Friday.

Before that additional municipal commissioner (eastern suburbs) Ashwini Bhide will present the education department's budget estimates for the next fiscal to the administrator-cum-commissioner, it said.

The budget of the richest civic body in the country stood at Rs 52,619.07 crore for the year 2023-24, which was 14.5 per cent more than the previous fiscal.

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