Mumbai hopes to generate Rs 1.4 lakh crore in revenues in the next seven years
The Commissioner, I S Chahal, addressed various budgetary provisions and projects of the BMC during a Q&A session with the media. However, he did not provide any information regarding a potential hike property tax in the upcoming year, and there was no mention of such a hike in the budget speech either.
Will MLAs receive funds from the BMC in the next year, despite the controversy surrounding the issue?
The decision regarding MLA funds is made at the state level, and the approval of the guardian minister is necessary for fund allocation.
Regarding a potential hike in property tax?
We have proposed to the state government not to increase property tax this year. The matter will be discussed in the cabinet meeting on Monday, and if approved, the decision will apply for the current financial year until March 2023. Property tax bills will be distributed within the next two weeks following the decision.
How much fixed deposits are expected to be fetched in the next year?
Why the focus on fixed deposits? The amount remains the same as last year. It is prudent to deposit surplus revenue into fixed deposits and utilise it as needed for projects.
With BMC liabilities totalling Rs 2 lakh crore and only Rs 86,000 crore in fixed deposits, how will expenses be managed?
While liabilities amount to Rs 2 lakh crore, the projects span the next 15 years. Based on recent revenue trends, BMC anticipates generating up to Rs 1.4 lakh crore in the next seven years alone. Therefore, completing these projects is not deemed impossible.
Will there be infrastructure development on the Mahalaxmi racecourse?
A three-and-a-half-hour meeting was held on December 18 to elucidate BMC’s plans and reassure that there will be no construction in the future. Central Park is crucial for the city, and we encourage support for it.
How many suggestions have been received from citizens for budgetary provisions?
We have received around 736 emails and 9 letters, totalling 1,181 suggestions from citizens. We try to incorporate them as much as possible. For instance, one suggestion was to provide affordable medicine, to which we responded by implementing a zero prescription policy. Additionally, we have allocated R7,191 crore for health in our proposed budget, with Rs 1,716 crore earmarked for infrastructure.
