March 23, 2023

The (BMC), the richest civic body in the country, on Thursday presented a budget of Rs 45,949.21 crore for the year 2022-23, ahead of the civic elections.

The budget estimates are 17.70 per cent more than the last fiscal, when the had presented Rs 39,038.83 crore budget.

Mumbai municipal commissioner Iqbal Singh Chahal presented the budget before the civic standing committee meeting held at the headquarters.

In the budget, the civic body announced 100 per cent relief from payment of property tax for the flats measuring up to 500 square feet of carpet area.

“About 16,14,000 citizens will get 100 per cent property tax relief. The amount of exemption to citizens is to the tune of Rs 462 crore per annum,” Chahal said in his budget speech.

On January 1, Chief Minister Uddhav Thackeray had announced a decision to waive the property tax for the residential units of up to 500 square feet, located within the Mumbai municipal area limits.

Before presenting the general budget at the standing committee, the also tabled its education budget of Rs 3,370.24 crore. This year’s education budget estimates are 14.45 per cent more than the last fiscal when the budget was Rs 2945.78 crore.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: