Slamming the Brihanmumbai Municipal Corporation (BMC) for its plan to raise funds through bonds for its infrastructure projects, members of the standing committee on Wednesday, January 27, demanded that a status report on the entire plan should be submitted to the committee.
Corporators of the opposition party has said that the civic administration cannot bring in such a crucial policy without approval from the standing committee.
In a committee meeting on Wednesday, January 27, members demanded that the administration submit a detailed planned report on the bonds and its budget.
This came few days after a senior civic official had said that the BMC has planned to float municipal bonds and raise INR 4,000 crores to fund infrastructure projects as the Asia’s richest civic body is going through a money crunch amid falling revenues and elevated COVID spending.
An opposition party leader said that the civic body must disclose how much financial deficit there is since they are raising funds from the market. They need to submit a white paper to the committee on the same.
Meanwhile targeting the ruling Maha Vikas Aghadi (MVA) government, BJP leader claimed this move as a gimmick. It also said that there has been a lack of clarity on income and expenditure related to COVID and representatives are being kept in the dark about the BMC’s finances.
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