Mumbai, February 4: The Brihanmumbai Municipal Corporation (BMC), which is the richest municipal corporation in not only India but Asia, will present its annual budget today, on Monday for the financial year 2019-20. According to a report in the Indian Express, this year's BMC budget will see an increase of about 25 per cent as compared to the budgets of last two years. BMC Budget 2019-20 Live Updates: BMC School Students to be Taken to Byculla Zoo for Penguin Darshan.

Facing flak over the "under-utilisation" of funds in the past, the municipal corporation has claimed several mega projects such as the proposed coastal road, Mumbai Sewage Disposal Project (MSDP), Goregaon-Mulund Link Road (GMLR) and waste-to-energy plants. The BMC has cited these projects as the reason behind increase in this year's budget.

The BMC presented its highest ever budget in the year 2016-17 which was of Rs 37,052 crore. But the budgets for the subsequent years saw a dip, especially in the year 2017-18. And in the year 2018-19, the budget was for Rs 27,258 crore.

The BMC has faced a lot of heat over lack of expenditure on important projects and not utilizing the funds. In the last few years, only 25 to 35 percent of the budget was utilised by the municipal corporation.

However, the expectations this time would be high considering it's an election year. No new taxes are expected to be introduced. Also, existing taxes are unlikely to see any increase.

An official was quoted saying by the daily that, “The health budget will be increased from last year’s Rs 3,636 crore. Other projects like cycling track, Powai to Veravali water supply tunnel, procurement of new fire fighting equipments, Mithi River Rejuvenation, reconstruction of hospitals may also see rise in budget allocation.”

One important provision that the BMC will make room for in the budget is the implementation of seventh pay commission. The BMC has a fixed reserve of Rs 70,000 crore of fixed deposits in the form of pensions, provident funds and infrastructure projects. The BMC aims to use these funds for infrastructure projects.

(The above story first appeared on LatestLY on Feb 04, 2019 08:58 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).