Mumbai: BMC Unveils Rs 59,954.75 Crore Budget for FY 2024-25, Signifying a 10.5% Surge
Mumbai, 2nd February 2024: The Brihanmumbai Municipal Corporation (BMC), recognized as India’s wealthiest civic body, has disclosed its budgetary allocation for the fiscal year 2024-25, amounting to ₹59,954.75 crore. This figure signifies a noteworthy increase of 10.5% compared to the budget for the preceding fiscal year, which stood at ₹54,256.07 crore in 2023-24.
BMC Commissioner Iqbal Singh Chahal presided over the budget presentation, having assumed the role of BMC administrator after the completion of the five-year tenure of corporators in March 2022. This marks the second instance, since 1985, wherein the BMC administration has presented the budget to an administrator following the expiration of the corporators’ five-year term.
The presented budgetary proposal delineates a comprehensive financial plan for the upcoming fiscal year, covering various sectors and initiatives crucial for the civic well-being of Mumbai. The notable increase in allocation compared to the previous year underscores the municipality’s commitment to tackling evolving challenges and promoting developmental initiatives within the financial constraints and priorities of the civic body.
