The Brihanmumbai Municipal Corporation, the richest municipal body in India, has announced a budget estimate of Rs 52,619.07 crores, ahead of the Maharashtra State Budget later this month. The BMC estimate is up by nearly 15% from their estimates for Budget 2022-23.
The Budget, which sees an increase of 14.52% on last year’s estimate of Rs 45,949.21 crores, is the highest Budget the civic body has ever presented in it’s 134 year long history. The Budget was presented to the Municipal Commissioner Iqbal Singh Chahal on Saturday, and has provisions for the various roadways projects, setting up of EV Charging Stations in public places as well as air purifiers in 5 high-density locations across Mumbai.
A provision of Rs 800 Crore has been made for Brihanmumbai Electricity Supply & Transportation, keeping the importance of public transportation in mind.
The Municipal Corporation will be beginning the beautification of the Gateway of India area, and has allotted funds to that end in it’s Budget 2023-2024 Estimate. Work will begin on laying down a pedestrian-friendly stamped concrete footpath, the beautification of junctions in the area and other such ancillary projects for the renovation of the Gateway complex.
In anticipation of a big increase in electric vehicles, the BMC is looking to set up Charging Stations for EVs in Public Parking Areas. The Corporation will outsource the running of these stations to private contractors, while the charging stations themselves will be set up by private organisations with the revenue to be split between the companies and the BMC on a revenue sharing principle.
The BMC will also be developing a Parking App, which will reflect the status of all 32 off-road Public Parking Lots as well as all 91 on-road Parking Spaces in the city.
Funds have been allocated to major roadways projects within the city, with two projects accounting for just over 7.8% of the entire Budget, namely the Mumbai Coastal Road Project and the Goregaon-Mulund Link Road Project.
The Mumbai Coastal Road Project, which is a planned 29.2 km long, 8-lane expressway is due for completion by December 2023. This ambitious expressway project is currently 69% complete, with work underway on Phases I, II and IV. The project has been allocated funds to the tune of Rs 3,545 crore.
Construction on the Goregaon-Mulund Link Road Project is due to begin this month, and the Road is expected to open up for public use in December 2026. This road project will cut the travel time between western Mumbai and Thane significantly. It will connect Mulund in the east with Goregaon in the west, creating a corridor for east-west traffic within Mumbai. The proposal for this 12.2 km long project includes a 4.7 km long underground twin tunnel running under the Sanjay Gandhi National Park. The Goregaon-Mulund Link Road Project has been allocated Rs 1,060 crore.
The Budget presented by the BMC allocates Rs 27,247.80 crore towards capital expenditure and Rs 25,305.94 crore towards revenue expenditure. This is the first time that capital expenditure accounts for 52% of the budget, while revenue expenditure makes up the remaining 48%.
