Mumbai: The Mumbai Metropolitan Region Development Authority’s (MMRDA) budget for 2023-24 was presented by Metropolitan Commissioner SVR Srinivas on Friday, with 94% expenditure earmarked for road and bridge projects, public transport and other infrastructure development works.
As per an MMRDA release, the total estimated receipt is Rs23,689.77 crore, including a loan from the Maharashtra government, while the total estimated expenditure is Rs28,704.98 crore, leaving a deficit of Rs5,014.41 crore.
Srinivas also presented a revised budget of MMRDA for 2022-23 with estimated total revenue of Rs.14,535.39 crore and total expenditure estimated at Rs.15,452.98 crores. Both the budgets were approved in the meeting, the release informed.
The State Government has granted permission for raising loans up to Rs60,000 crore as and when required to complete the ambitious projects, which also proposes to monetise its assets through Infrastructure Investment Trusts, toll operate transfer (TOT) and alternate investment fund (AIF) etc for efficient resource mobilization, the release said.
According to the release, the revised estimate of the 42km sea bridge project between Versova and Virar, as well as construction of a 3.8km long tunnel road between Eastern Freeway and Marine Drive in the southern part of the metropolis for vehicular movement. were approved.
“The authority approved MMRDA’s proposal to be submitted to the state for collection of toll from December 2027 from vehicles entering Mumbai so as to recover the cost of infrastructure and metro rail network being laid by it in the region,” the release said.
The authority also approved the estimate for construction of twin tunnel between Thane and Borivali, disposing of two plots through e-tendering in G-Block of Bandra-Kurla Complex, appointment of consultant to prepare detailed project report extension of Metro Line-5 from Kalyan to Ulhasnagar and extension of Chheda Nagar flyover from Ghatkopar to Thane, it said.
Some of the allocations are Rs20 cr for Versova-Virar Sea Bridge, Rs1,500 cr for Sea Coastal Road in Mumbai from Orange Gate, Eastern Freeway to Marine Drive; Thane and Borivali Twin Tunnels (Rs3,000 cr); Thane, Teen Hath Naka junction on Eastern Expressway Traffic improvement Project (Rs100 cr); Deharji Madhyam Project (Rs448 cr); Bhiwandi-Wada Road State Highway (No.35) Vishwabharati Naka to Bhinar to Vadape (Rs25 cr); construction of Kalyan Bypass Road Part-3 (Rs150 cr)