Mumbai-The financial budget of the year 2025-26 of Mumbai Municipal Corporation, considered the richest in the country, will be presented by the Municipal Corporation Commissioner on 4 February. Mumbaikars have high expectations from the budget of the Municipal Corporation providing civil facilities. However, keeping in mind the upcoming Mumbai Municipal Corporation elections, the budget is expected to increase the old taxes and new taxes on Mumbaikars. There is a possibility that Municipal Corporation Commissioner Bhushan will not take charge.
Sources say that the influence of Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde can be seen on this budget. The municipality presented a budget of Rs 59,954.75 crore for 2024-25. Experts say that the budget of the municipal corporation can reach Rs 65,000 crore in 2025-26. This means that the budget is expected to increase by 10 percent.
The municipality had sought suggestions and objections from citizens to prepare for the budget, for which about 2,700 reactions have been received so far. Officials said many of these reactions focus on improving the deteriorating condition of Best’s bus services. However, the budget is less likely to announce large projects in the budget.
The official said, “We are considering measures such as amendment in property tax, imposing property tax on commercial slums, redeveloping premiums from the resolution of municipal properties and auctioning plots by the municipality by the municipality, so that The revenue source of the municipality can be increased. ” The official said that after three years the municipal elections are likely to be delayed, so the introduction of new taxes in the upcoming budget can become a major challenge for the municipality.
According to the property tax guidelines, the municipality is allowed to revise the tax every five years, but was avoided to increase the tax in the year 2020-21 due to opposition from the Standing Committee and the Municipal Council. The municipality prepared a draft by proposing a 16 percent increase in property tax.
Municipal Commissioner Bhushan Gagrani said, “We are considering strengthening our existing revenue sources to increase funds, which is necessary to fulfill future payment obligations for ongoing projects.”
Where will the money come from in the empty treasure of the municipality? Provision of this is the biggest challenge for Commissioner Gagrani, as the municipality has to withdraw money from fixed deposits to complete the stuck project. In the year 2022, the fixed deposit of the municipality is Rs. 91,690 crore is Rs 91,690 crore in the year 2023. In the year 2024, Rs 5000 crore will be reduced to Rs 86410 crore and Rs 80 thousand crore. This has made a matter of concern for the municipality.
After the Korona crisis, Manpa has not imposed any new tax on Mumbaikars. At the same time, property tax has been waived at flats up to 500 sq ft in Mumbai, due to which Manpa is losing Rs 4,500 crore every year. Gagrani will have to make provisions in the budget so that additional revenue can increase in the municipality’s treasury.
The Municipal Corporation has announced projects worth about two lakh crore rupees in Mumbai. The Manpa Commissioner said that in the Manpa budget of the year 2025-26, special provisions made for Goregaon-Mulund link road, road repair, cementization of roads as soon as possible, completion of sewerage treatment plant, construction of tunnels for water supply etc. Have gone , And coastal development. The expansion of the road from the budget to the Dahisar is expected to increase the level of education and improve the status of plains and gardens. In addition, announcements of water pipeline repair, bridge repair and sewer improvement are also expected. The Commissioner has taken several initiatives in the budget for better facilities in hospitals, expansion of dispenser, increase in investigation laboratories, expansion of hospitals and modernization.
The municipality spends a large part of its budget on development projects. Provision has been made in the budget for this. In the last eight years, capital expenditure in the Municipal Corporation budget has increased more than seven times. Capital expenditure in the budget of 2017-18 was 25% of the budget. Which increased to about 53% in the budget of 2024-25. To promote many projects, this year’s budget is also expected to increase capital expenditure by five to 10%, as the municipality has issued work orders for large -scale projects.
It is noteworthy that the Municipal Corporation had made a provision of about 36 thousand crore rupees for various development works in the current financial year budget. Out of this, Rs 18,991 crore has been spent by 31 December. About 60 percent of the expenditure has been incurred. The most expenditure has been made on flyover, roads, coastal roads, water supply schemes and projects etc. in Mumbai.
The municipality had sought suggestions and objections from citizens to prepare for the budget, for which about 2,700 reactions have been received so far. Officials said many of these reactions focus on improving the deteriorating condition of Best’s bus services. However, the budget is less likely to announce large projects in the budget.
The official said, “We are considering measures such as amendment in property tax, imposing property tax on commercial slums, redeveloping premiums from the resolution of municipal properties and auctioning plots by the municipality by the municipality, so that The revenue source of the municipality can be increased. ” The official said that after three years the municipal elections are likely to be delayed, so the introduction of new taxes in the upcoming budget can become a major challenge for the municipality.
According to the property tax guidelines, the municipality is allowed to revise the tax every five years, but was avoided to increase the tax in the year 2020-21 due to opposition from the Standing Committee and the Municipal Council. The municipality prepared a draft by proposing a 16 percent increase in property tax.
Municipal Commissioner Bhushan Gagrani said, “We are considering strengthening our existing revenue sources to increase funds, which is necessary to fulfill future payment obligations for ongoing projects.”
Spending on important development works so far
Road and Transport:- 1993 crore (provision- 3400 crore rupees)
Rainfall drainage:- Rs 953 crore (provision- Rs 1930 crore)
Coastal Road: -1775 crore (provision -2900 crores)
Goregaon-Mulund Link Road:- 500 Crore (Provision- 187 Crore)
Solid Waste Department: -204 Crore (Provision -230 Crore rupees)
Zanibagh: -2.02 crore (provision 74 crore)
Mega project launched by the municipality
Mumbai Coastal Road Project Phase 2 – Versova to Dahisar: Rs 16,621 crore.
Dahisar-Bhayandar Link Road: Rs 3,304 crore.
Upgradation of seven sewage treatment plants – Rs. 27000 crores
Concretion of roads – Rs. 12000 crores
GMLR Twin Tunnel – Rs 6,322 crore
Madha to Versova Bridge – Rs. 1800 crores
