BMC set to present its fiscal budget for year 2019-20

One of Asia’s richest municipal corporations, Brihanmumbai Municipal Corporation (BMC) on Tuesday will present its budget for the financial year 2019-20. Mumbai’s civic body has decided to increase the budget by almost 25 per cent compared to last year. 

Earlier, BMC presented budget worth ₹27,258 for the financial year 2018-19. According to sources, the civic body has planned to increase the budget for this year to focus more on proposed major infrastructure projects such as Mumbai coastal road, Goregaon-Mulund Link Road (GMLR), and others. 

The civic body tends to allocate funds for flood mitigation measures, and the reconstruction of old and ramshackle bridges in the city. Along with this, the BMC will also fund major projects including Mumbai Sewage Disposal Project (MSDP) and waste-to-energy project at Deonar. The work for a few of the major projects focusing on infrastructural development has already been initiated. 

A senior BMC official informed that the health budget for this year will also increase. Last year, the budget dedicated to the health sector was ₹3,636 crore. 

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The sources informed that the fiscal budget for this year is expected to cross ₹30,000 crore. Earlier in 2016-17, the civic body presented its highest budget of ₹37,052 crore. However, in 2017-18, it slashed down the numbers by ₹12,000 crore. The civic officials claimed that the budget for the year 2016-17 was not realistically estimated.