The Brihanmumbai Municipal Corporation (BMC) is looking at increasing expenditure on multi-crore mega infrastructure projects like the Mumbai Coastal Road (Rs 12,000 crore) and the Goregaon Mulund Link Road (Rs 4,700 crore).
It is likely that funds will also be set aside for the proposed elevated road connecting Cuffe Parade to Nariman Point, given new Maharashtra Chief Minister Uddhav Thackeray’s push for the project. The Shiv Sena leader has been stressing on this project that is touted to cut down traffic time and congestion substantially.
However, though a considerable hike is expected in the expenses incurred by the civic body in the coming year, it is unlikely that the Budget 72would be increased.
The size of the Budget to be tabled by Municipal Commissioner Praveen Pardeshi on February 4 for the upcoming financial year is expected to remain the same as last year. This is because revenue-based income such as from property tax, has not increased, the Times of India reported. Moreover, no additional taxes have been introduced nor have the present tax rates been increased.
For the coastal road project alone – which was started in the year 2018 – the Mumbai civic body had set aside Rs 1,600 crore from its Rs 30,692 crore Budget. With additional projects such as the GMLR in the offing, the expenditure on such big-ticket projects is expected to soar in inordinate proportions.
Moreover, the Cuffe Parade-Nariman Point elevated road is also expected to receive a major chunk of the allocations aside from the Rs 745-crore earmarked for the two road over-bridges at Mahalaxmi. Both the elevated road and the road over-bridges will reportedly improve connectivity with the under-construction coastal road.
Notably, the BMC 2020-21 Budget is expected to turn to corporates based in the city to work on Mumbai’s aesthetics and cleanliness. In a pilot project conducted recently, the Shiv Sena-controlled BMC had roped in city corporates to keep pavements and roads in Worli, Mahalaxmi, and Lower Parel clean, as part of their Corporate Social Responsibility initiative. That apart, the upcoming Budget may also stress on promoting the tourist spots developed by the civic body, such as the Byculla Zoo.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
