Mumbaikars get a huge relief in the presented Brihanmumbai Municipal Corporation (BMC) budget for the FY 2023-24 as there is no increase in tax by the civic body.
Reportedly, the taxes have not been increased keeping in view of the upcoming civic body polls.
In the financial year 2022-23, revenue from property tax, the second highest source of income, was estimated to be INR 7,000 crores which is revised to INR 4800 crores a fall by INR 2200 crore, said Iqbal Singh Chahal.
The actual income received upto December 31, 2022 is INR 3174.46 crore.
The BMC further said the revenue from DP department expected to be generated INR 4,400 crore, while revenue to be generated from property tax is expected to be INR 6,000 crore.
The BMC is expecting to earn INR 1707 crore interest on investment. Water charges and sewerage is expected to fetch a revenue of INR 1965. 64 crores and grant from government in lieu of Octroi is INR 1,2344.10 crore.
“For the first time in history of BMC, capital expenditure is more than revenue,” Chahal said in his speech.
In addition to this, the BMC has also proposed to place five air purifiers in Dahisar toll naka, Mulund check naka, Mankhurd, Kala Nagar and Haji Ali junction. The BMC allocated INR 3,545 crores for the Coastal Road project.
The civic body in the budget has also mentioned that more charging stations for electric vehicles in public parking areas owned by BMC in the financial year 2023-24. Meanwhile, the budget estimate for education for 2023-2024 has marginally reduced to INR 3,347 crore as against last year’s INR 3,370 crore.