MMRDA Unveils Ambitious Rs 40,187 Crore Budget for Mumbai

The Mumbai Metropolitan Region Development Authority presented a Rs 40,187 crore budget, focusing 87% on infrastructure projects. With revenues at Rs 36,939 crore and a Rs 3,249 crore deficit, plans to cover the gap include land sales and loans. The budget supports ongoing metro and tunnel projects.

The Mumbai Metropolitan Region Development Authority (MMRDA) revealed an ambitious Rs 40,187 crore budget aimed at transforming the megapolis through substantial infrastructure investments.

A major chunk, Rs 35,151 crore, 87% of the overall expenditure, is dedicated to various infrastructure projects, according to an official statement.

Despite revenues estimated at Rs 36,939 crore, the MMRDA faces a deficit of Rs 3,249 crore, which it plans to cover through strategic land sales, bond issuance, and financial assistance from institutions.

Rs 10,969 crore has been designated for ongoing metro lines, underscoring a significant investment in enhancing urban connectivity.

Additionally, over Rs 5,697 crore is allocated for tunnel projects, which include the significant Rs 2,684 crore, four-lane road beneath the Sanjay Gandhi National Park.

Maharashtra's Chief Minister Devendra Fadnavis highlighted the MMRDA region as crucial for the state's economic development and expressed optimism towards achieving the vision of a USD 1 trillion GSDP.

(With inputs from agencies.)