The Brihanmumbai Municipal Corporation (BMC), India's richest civic body, presented its budget for the 2024-25 fiscal year on Friday, outlining a 10.5% increase from the previous year. The total budget stands at Rs 59,954.75 crore, exceeding the 2023-24 figure of Rs 54,256.07 crore.
The civic administration presented the budget to municipal commissioner Iqbal Singh Chahal, who assumed the role of BMC administrator following the conclusion of the five-year term of corporators in March 2022.
According to the budget document, The budget estimates for the financial year 2024-25 are proposed at Rs 59,954.75 crore, which exceeds the budget estimates of 2022-23, that is Rs 54,256.07 crore, by 10.5%.
This marks the second instance, following 1985, where the BMC administration has presented the budget to an administrator due to the conclusion of corporators' five-year terms.
Key Highlights:
- Increased Budget: The revised budget represents a 10.5% growth compared to the previous year.
- Administrator's Role: Iqbal Singh Chahal, appointed administrator, holds responsibility for leading the budget process.