MUMBAI: Brihanmumbai Municipal Commissioner Bhushan Gagrani on Tuesday unveiled the BMC’s largest-ever Rs 74,427-crore budget for fiscal year 2025-26, which is 14.19% more than the previous year’s. The BMC proposes to develop the Mumbai Eye in line with the United Kingdom’s iconic London Eye on a private participation model. The corporation revived the project shelved over a decade ago. It will require two to three acres of land.
The BMC also plans a Tiger Monument as part of the GMLR project in collaboration with the forest and tourism departments. A suitable location within the tunnel passing underneath Sanjay Gandhi National Park will be identified.
Of the budgetary allocation, Rs 43,162 crore goes to capital expenditure, mainly for developmental and city infra projects. The revenue expenditure has reduced from 75% to 42%, curbing costs in salaries and administration.
Gagrani presented his first budget, the BMC’s third without an elected body. With the upcoming BMC elections, the Mahayuti-controlled corporation refrained from introducing new taxes.
BMC has urged the state government to classify its key projects—such as the Mumbai Coastal Road (South) from Marine Drive to the Bandra-Worli Sea Link, Goregaon-Mulund Link Road (GMLR), Mumbai Coastal Road (North) from Versova to Dahisar, and the Elevated Road from Link Road to Dahisar (West)--as vital urban transport projects under the Maharashtra Regional and Town Planning Act, 1986.
Largest ever budget
BMC’s 2025-25 annual budget: Rs 74,427.41 crore
Rs 60.65 crore surplus budget
Revenue income: Rs 43,159 crore
Capital expenditure: Rs 31.204 crore
Grant in aid – compensations in lieu of octroi: Rs 14,398 crore
Development Planning (DP) fees and premium: Rs 9,700 crore