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BMC to arrange special project fund for mega improvement tasks

Wednesday, 23 Jun 2021
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The Brihanmumbai Municipal Corporation (BMC) has proposed to arrange a special project fund to make sure that no mega improvement tasks within the metropolis face financial crunch.
As per the BMC estimates, within the subsequent few years, varied improvement tasks throughout Mumbai will value round Rs 7,884 crore.
A proposal on organising the particular undertaking fund can be tabled earlier than the BMC Standing Committee for its ultimate approval. 
The fund can be utilised in improvement works such as reconstruction work of at least 12 bridges over railway tracks in coordination with the Maharashtra Rail Infrastructure Development Corporation, costing Rs 1,675 crore, and different bridges underneath BMC jurisdiction.
The cash may also be used on rejuvenation works close to Mithi, Poisar and Dahisar rivers in addition to storm water pumping stations. These projects will require huge funds and to ensure that fund shortage does not affect the progress of works in future, such steps are required. 
In February 2021, Municipal Commissioner Iqbal Singh Chahal, in his price range speech, had first proposed a particular undertaking fund.
As per the proposal, for 12 months, BMC will switch amassed surplus from different departments to this particular fund to lift Rs 4,000 crore. Also, for one year, the civic physique has proposed to take loans price around Rs 5,876 crore from totally different BMC departments.
BMC has proposed capital expenditure of Rs 18,750.99 crore for 2021-22, regardless of witnessing a pointy lower in income attributable to COVID-19.
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