The Brihanmumbai Municipal Corporation (BMC) has outlined an expansive funding strategy in its 2026–27 Budget, proposing the use of strategic reserves along with the issuance of Green Bonds to support a range of development works across Mumbai.
Presented on Wednesday, the budget signals a key administrative shift after recent political changes within the corporation. The civic body has decided to draw upon its fixed deposits to finance infrastructure projects. At present, the BMC holds deposits amounting to Rs 81,449.32 crore. Of this total, Rs 44,826.23 crore is earmarked for statutory obligations and will remain untouched.
The remaining Rs 36,623.09 crore is proposed to be channelled into ongoing and upcoming civic works. In addition, the corporation intends to generate funds through Green Bonds, entertainment tax, hawker regulation measures, and a revised advertisement policy. The BMC plans to raise Rs 1,000 crore via Green Bonds aimed at environmentally sustainable infrastructure, which may also qualify for a Rs 100 crore subsidy from the Centre.
As part of its advertisement reforms, hoardings exceeding 40×40 feet have been prohibited. Advertisements on footpaths and building terraces have also been completely banned to address congestion and visual clutter.
The civic body will reinstate the entertainment tax from October 2026 once the current state government waiver ends. To streamline hawker management, QR code-based identity certificates will be issued to licensed vendors to distinguish authorised sellers from illegal encroachments.
Infrastructure remains central to the budget. An allocation of Rs 9,650 crore has been made for bridge construction. Of 101 bridge projects currently in progress, 24 have been completed, 23 are scheduled for completion by March 2026, 31 during 2026–27, and the remaining 23 by 2028–29.
Further allocations include Rs 4,000 crore for the Versova-Dahisar Phase 2 project and Rs 2,650 crore for the Goregaon-Mulund Link Road. The BMC will extend Rs 1,000 crore in financial support to BEST in the coming fiscal year.
The health department has been assigned Rs 7,456.40 crore, with Rs 1,062 crore set aside for the redevelopment and upgrade of key hospitals such as Sion, Rajawadi, Nair, and Bandra Cancer Hospital.
The budget also earmarks Rs 6,875 crore for on-street and off-street parking projects under PPP models. Additionally, Rs 950 crore has been allocated to develop 53 hectares near the Mumbai Coastal Road into a green belt and public park.
Source: The Hawk
