MUMBAI: The Brihanmumbai Municipal Corporation, the richest civic body in the country, on Wednesday unveiled its fixed deposit (FD) reserves. According to a report by Hindustan Times, an affiliate of Livemint, FD Reserve BMC has increased ₹82,410 crores. NS ₹There is a reserve of Rs 82,410 crore in 343 different FDs in private and public banks. According to the daily, BMC earns approx. ₹1,800 crores as interest per annum on fixed deposits.
FD value of BMC ₹5,664 crores matured this year, while the civic body invested ₹9,079 crore in new deposits. BMC has taken internal loan from FDs related to infrastructure development projects. BMC has added FD for construction of coastal roads ₹50,952 crore. FDs of ₹26,000 crore employees are part of PF and pension accounts.
BMC said that its fixed deposit ₹79,002 crore in August this year. Out of this, FDs ₹5,664 crores matured and made another FD of ₹9,079 crore including mature FD amount.
For the budget of FY 22, BMC presented the budget of ₹No new tax for 39,038.83 crore city residents. The budget aims to upgrade the city’s infrastructure, health care and municipal education systems.
This year’s budget was 16.74% more than last year’s budget. BMC presented the budget in 2020 ₹33,441.02 crore.
Apart from this, the civic body has also increased the capital expenditure ₹18,750.99 crore in 2021 which is ₹7,847.41 crore more than the 2020 allocation ₹10,903.5 crores.
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