The budget of the Brihanmumbai Municipal Corporation (BMC) will be presented on February 4 for the upcoming financial year 2025-26. This is the third budget under the administrative regime after the end of the term of the municipality. This is the first budget of Commissioner Bhushan Gagrani. The size of this year's budget is likely to go up to 65 thousand crore rupees.
The budget estimates of the Brihanmumbai Municipal Corporation for the year 2025-26 will be presented on Tuesday, February 4 at 11 am in the auditorium of the BMC headquarters. According to the rules, the budget of the education department will be presented first. Additional Municipal Commissioner Dr. Amit Saini will present the budget estimate of the Education Department before Municipal Administrator Bhushan Gagrani. After that, Additional Municipal Commissioner Abhijit Bangar will present the budget estimates of Brihanmumbai Municipal Corporation.
The current year budget of BMC was presented at 59,954 crore rupees. The size of this budget is equal to the budget of a state. Since the expiry of the term of the municipality in March 2022, the BMC is currently under administrative rule. The budget will be presented at the administrative level.
This is the third budget to be presented under the administrative regime. Due to the reduced fixed deposits of the municipality, increased expenses, the budget is of special importance this year as well. The BMC currently has an administrator appointed, and as there is no public representative, the budget for the year 2025-26 will also be presented at the administrative level only like last year.
The financial condition of the civic body will also be estimated from this budget. The financial condition of BMC, which is known as a rich municipal corporation, has started to deteriorate over the last few years. After the cessation of zakat, it has failed to generate new major sources of revenue. Due to dispute over property tax bills, collection of property tax is at a standstill. Fixed deposits of the municipality have also decreased. Meanwhile, the municipality has also tried to divert funds for development works from the reserve fund. Therefore, the estimate of the financial condition of the municipality is also likely to come from this budget.
Irrespective of the financial condition of the municipality, the BMC has to make substantial provision for the big projects that have already been started. A major provision is likely to be made for ambitious projects such as the second phase of the Coastal Road, as well as the Goregaon Mulund Link Road, desalination of sea water. Therefore, even though the income has not increased, the capital expenditure provisions have to be increased. For that again the reserve fund will have to be used. Therefore, it is certain that the size of the budget will increase.
BMC Commissioner Bhushan Gagrani's first budget
This is the first budget of Municipal Commissioner Bhushan Gagrani. Gagarani has now completed one year after becoming the municipal commissioner. During this year, Gagrani tried to impose financial discipline on the administration of the municipality. Many expenses were reduced. Also, he planned the planning strategy so that the projects would be self-sustainable. He emphasised on planning in such a way that the maintenance cost of the project is met from the project itself. Therefore, it is likely to be reflected in this year's budget.
While presenting the budget for the current financial year, it mentioned various announcements made by former Chief Minister Eknath Shinde. The current financial year was dominated by Lok Sabha and Vidhan Sabha elections. There is a possibility that the municipal elections will be held this year. So this budget is also likely to be an election budget. Although it is not possible for the municipal administration to increase the property tax, it is possible to increase the property tax zones in various ways. Many structures can come under the ambit of property tax, like commercial plots in slums.
Share
Tweet
