Mumbai, Feb 25 (NationPress) The Brihanmumbai Municipal Corporation (BMC) has unveiled its annual budget for 2026-27, proposing a range of initiatives such as leveraging strategic reserves and introducing Green Bonds to generate funds for essential development projects.

In a notable administrative strategy following a political transition within the corporation, the BMC plans to utilize its fixed deposits (FDs) for these developmental endeavors.

Currently, the BMC possesses total deposits amounting to Rs 81,449.32 crore, with Rs 44,826.23 crore earmarked for statutory liabilities and thus unavailable for other uses.

The remaining Rs 36,623.09 crore is set to be allocated towards various ongoing and upcoming infrastructure initiatives. Alongside this, the BMC aims to raise additional funds through Green Bonds, entertainment taxes, hawker regulation, and an updated advertisement policy.

In an effort to promote eco-friendly infrastructure, the corporation intends to issue 'Green Bonds' valued at Rs 1,000 crore, which could also secure a Rs 100 crore subsidy from the central government.

As part of its advertisement policy aimed at decluttering the city, the BMC has prohibited hoardings larger than 40x40 feet and banned advertisements on footpaths and building terraces.

The BMC plans to reinstate the entertainment tax starting in October 2026, following the conclusion of the state government's current waiver.

To regulate unauthorized vendors and combat illegal encroachment, the BMC will initiate QR code-based identity certificates for licensed hawkers.

This budget underscores a strong commitment to enhancing Mumbai's infrastructure, with a substantial allocation of Rs 9,650 crore dedicated to bridge projects.

Currently, there are 101 bridge projects in progress; 24 have been completed, 23 are anticipated to conclude by March 2026, 31 by 2026-27, and the remaining 23 by 2028-29. Additionally, Rs 4,000 crore has been earmarked for the Versova-Dahisar stretch (Phase 2).

For the Goregaon-Mulund Link Road (GMLR) project, Rs 2,650 crore has been allocated. Furthermore, the BMC will provide Rs 1,000 crore to support the BEST undertaking in the upcoming fiscal year.

Moreover, the BMC has set aside Rs 7,456.40 crore for the health department, with Rs 1,062 crore allocated for the redevelopment and modernization of key facilities, including Sion, Rajawadi, Nair, and the Bandra Cancer Hospital.

Plans for developing on-street and off-street parking through Public-Private Partnership (PPP) models include an allocation of Rs 6,875 crore.

Lastly, approximately 53 hectares of land adjacent to the Mumbai Coastal Road will be transformed into a green belt and park, with a budget provision of Rs 950 crore.