This news related to the budget of a municipal corporation may surprise you. Yes, Brihanmumbai Municipal Corporation (BMC) on Tuesday presented a budget of Rs 74,427.41 crore, which is the biggest budget ever. Not only this, the biggest budget for the financial year 2025-26 is the biggest budget so far without any tax increase. According to PTI news, this budget was presented before the important municipal corporation elections to be held this year. Budget Municipal Commissioner Bhushan Gagrani was presented, who is the administrator appointed by the municipal body.
The common man took care
According to the news, this is the third consecutive year when the budget was presented by the Administrator as the Municipal Elections have not been held after the term of the House in March 2022. Maharashtra Deputy Chief Minister Eknath Shinde, who is also the Minister of Urban Development of the state, said that the budget has taken care of the common man by focusing on health, education and environment. Shinde said that there has been no increase in any kind of tax or cess (cess) in this year’s budget. It is worth noting that revenue has increased by more than Rs 7,000 crore.
No increase in property tax or water tax
The budget documents states that the budget estimate for FY 2025-26 is proposed to be Rs 74,427.41 crore, which is estimated at 2024-25 to Rs 14.19 percent from Rs 65,180.79 crore. The budget had a surplus of Rs 60.65 crore. Gagrani later said in a press conference that this is the biggest budget of BMC so far. He said that it reflects the dreams and expectations of the citizens of Mumbai. The administrator said that no increase in property tax or water tax has been proposed.
You have definitely imposed tax on these
BMC has decided to impose property tax on commercial installations operating in slums from FY 2025-26, which is expected to get an additional revenue of Rs 350 crore. In the budget, Rs 43,162.23 crore has been set for capital expenditure, while the estimated revenue is Rs 43,159.40 crore, with an ended octroi compensation of Rs 14,398 crore, Rs 9,700 crore from development plan fee and premium and Rs 5,200 from property tax Crores are included. Gagrani also said that since 2017-18, BMC has continuously reduced its revenue expenditure from 75 percent to 42 percent, while capital expenditure has increased from 25 percent to 58 percent.
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