Mumbai, February 25 – In the annual budget for 2026-27, presented on Wednesday, the Brihanmumbai Municipal Corporation (BMC) has proposed a series of measures, including the use of strategic reserves and Green Bonds, to mobilize funds for financing development projects.
In a significant administrative move following the political shift in the corporation, the BMC has decided to utilize its fixed deposits (FDs) for developmental projects.
The BMC currently holds a total deposit of Rs 81,449.32 crore. Of this, Rs 44,826.23 crore is reserved for statutory liabilities and cannot be used.
The administration has indicated that the remaining Rs 36,623.09 crore will be used to fund various ongoing and upcoming infrastructure projects. In addition, the BMC plans to raise resources through Green Bonds, entertainment tax, and a hawker regulation and advertisement policy.
The corporation aims to issue 'Green Bonds' worth Rs 1,000 crore to attract investors for eco-friendly infrastructure, which could also generate a Rs 100 crore central subsidy.
As part of its efforts to clean up the city, the advertisement policy prohibits hoardings larger than 40x40 feet, along with a complete ban on advertisements on sidewalks and building terraces.
The BMC plans to reintroduce the entertainment tax from October 2026, following the expiration of the state government's current waiver.
To identify authorized vendors and curb illegal encroachment, the BMC is launching QR code-based identity certificates for all licensed hawkers.
The budget places a strong emphasis on improving Mumbai's infrastructure. A massive allocation of Rs 9,650 crore has been made for bridge works.
Currently, 101 bridge projects are underway; 24 are complete, 23 are expected to be finished by March 2026, 31 in 2026-27, and the remaining 23 by 2028-29. Furthermore, Rs 4,000 crore has been allocated for the Versova-Dahisar stretch (Phase 2).
For the Goregaon-Mulund Link Road (GMLR) east-west connectivity project, Rs 2,650 crore was allocated. The BMC continues to support the BEST undertaking with a grant of Rs 1,000 crore for the upcoming fiscal year.
Furthermore, the BMC has earmarked a total of Rs 7,456.40 crore for the health department, while Rs 1,062 crore is allocated for the redevelopment and modernization of major facilities, including Sion, Rajawadi, Nair, and the Bandra Cancer Hospital.
The BMC plans to develop on-street and off-street parking through Public-Private Partnership (PPP) models, allocating Rs 6,875 crore.
Approximately 53 hectares of land adjacent to the Mumbai Coastal Road will be developed into a green belt and park, with an allocation of Rs 950 crore.