BMC tables record-breaking ₹59,954 cr budget for 2024-25

MUMBAI, Maharashtra: The Brihanmumbai Municipal Corporation (BMC), Mumbai’s civic body, has unveiled its annual budget for the fiscal year 2024-25, amounting to ₹59,954 crore. Marking a significant increase of 10.5 per cent from the previous year, this budget includes a capital expenditure of ₹31,774.59 crore and a revenue expenditure of ₹28,121.94 crore, establishing it as the highest allocation in the city’s history.

As India’s wealthiest civic body, BMC has outlined several infrastructure projects in this budget. Notable initiatives include the Mumbai Coastal Road and its extensions, the Goregaon twin tunnel, and various beautification projects. A substantial fund of ₹2,900 crore has been allocated specifically for the ambitious Mumbai Coastal Road Project (Marine Drive to Dahisar) in this budget. Additionally, BMC aims to conduct a financial study to ensure the self-sustainability of upcoming major infrastructure projects, such as the Mumbai Coastal Road Project and Goregaon to Mulund.

In a groundbreaking move, BMC is set to introduce a climate budget to combat air pollution, presenting the city’s first-ever Green Budget Book. This initiative aims to systematically reduce emissions and enhance climate resilience. The budget will focus on climate-related projects, including the development of green spaces, implementation of the Mumbai Climate Action Plan (MCAP), and the promotion of projects such as Renewable Hybrid Energy and Waste to Energy Plans.

Allocating a substantial budget of ₹928.65 crore, BMC aims to support the electrification of public transportation by granting funds to the Brihanmumbai Electric Supply and Transport (BEST). This funding is intended for infrastructural development, capital equipment purchase, acquisition of new buses on a wet lease basis, and day-to-day operational expenses.

Furthermore, BMC has set aside ₹128.65 crore for the procurement and deployment of 2000 electric buses within Mumbai. The remaining amount for this project is anticipated to be sourced from the World Bank in the form of a soft loan.

Addressing the city’s waste management needs, BMC has allotted ₹168 crore to the Solid Waste Management department. This department is responsible for overseeing waste segregation, sanitation, construction of toilets, and the appointment of ‘swachhata doots.’

This annual budget reflects BMC’s commitment to sustainable development, climate resilience, and the overall improvement of Mumbai’s infrastructure and environmental initiatives.