MMRDA Unveils ₹40,187 Crore Budget to Propel Mumbai's Evolution: Eknath Shinde
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Synopsis
MMRDA's ₹40,187 crore budget for 2025-26 aims to transform Mumbai through infrastructure projects, emphasizing economic growth and global investment confidence.
Key Takeaways
- MMRDA announces budget of ₹40,187 crore.
- 87% allocated for infrastructure projects.
- Goal to boost GDP to $300 billion by 2030.
- 54 MoUs signed for investments during WEF.
- Projects include metro expansions and coastal developments.
Mumbai, March 28 (NationPress) The Mumbai Metropolitan Region Development Authority (MMRDA), led by Maharashtra's Deputy Chief Minister Eknath Shinde, announced a budget of ₹40,187.41 crore for the fiscal year 2025-26, aiming to expedite the transformation of the Mumbai metropolis through various infrastructure initiatives.
Chief Minister Devendra Fadnavis stated, “The Mumbai Metropolitan Region (MMR) is crucial for Maharashtra’s economic growth. This Budget is a significant milestone toward realizing the goal of a trillion-dollar economy.”
Shinde further emphasized, “To deliver enhanced and world-class services to the citizens of the Mumbai Metropolitan Region, the budget allocates ₹35,151.14 crore, or approximately 87% of the total budget, towards infrastructure projects. This allocation supports ambitious undertakings, including the expansion of metro lines, new tunnels, maritime routes, water resource management, and urban infrastructure enhancements. The Budget Estimate anticipates revenues of ₹36,938.69 crore for 2025-26.”
He mentioned that the Budget aims to boost the GDP of the Mumbai Metropolitan Region to $300 billion by 2030 from its current level of $140 billion.
During the World Economic Forum in Davos, Maharashtra secured 54 MoUs totaling ₹15.70 lakh crore in investments, with MMRDA signing 11 MoUs valued at ₹3.50 lakh crore.
Shinde remarked, “These agreements highlight the leadership of MMRDA and signify global investor confidence in Maharashtra. This budgetary allocation is a pivotal step towards achieving a trillion-dollar economy.”
“Ranging from new metro lines to water resource projects, this budget fosters inclusive progress across all sectors. Thanks to MMRDA’s plans, Mumbai is poised to become a global financial center. The 2025-26 Budget presented by MMRDA is a visionary, all-encompassing, and multi-dimensional document aimed at developing the Mumbai Metropolitan Region,” he noted.
MMRDA has allocated over ₹35,000 crore for projects including metro line expansions, subways, water resource development, and new business hubs. “This budget will be a landmark in the metropolitan region's journey, including Mumbai, towards becoming a global city,” he asserted. He believes that the budget will encourage integrated, balanced, and rapid development in the Mumbai Metropolitan Region, reducing travel times and alleviating traffic congestion.
Key projects include the Thane to Borivali (Sanjay Gandhi National Park) 4-lane subway at ₹2,684.00 crore, construction of an underpass for traffic from Orange Gate on the Eastern Freeway to Marine Drive at ₹1,813.40 crore, and the Uttan to Virar Coastal Project at ₹2,000.00 crore, among others.
