BMC spares residents from fresh taxes in annual budget

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BMC-sparesMumbaikars will not have to pay any new taxes during 2014-15. The Municipal Corporation of Greater Mumbai (MCGM) commissioner Sitaram Kunte on Wednesday presented a Rs. 31,178 crore annual budget to the standing committee for the 2014-15 against Rs. 27,578.62 crore for 2013-14.

The civic body, in a bid to improve city’s roads, has proposed an allocation of Rs. 2,500 crore whileRs 500 crore on water and sewage disposal.

Kunte has proposed an assistance of Rs. 100 crore to BrihanMumbai Electric Supply & Transport (BEST) which has to subsidize its loss making transport business. BEST is city’s life line and carries about 4.8 million passengers daily.

Further, the municipal commissioner has proposed an allocation of Rs. 541 crore on repairs and redevelopment of municipal buildings. This is in the wake of series of building collapse in the city.

The civic body has earned Rs. 3,400 crore during 2013-14 on account of premium paid by the realty sector towards fungible floor space index (FSI).

Kunte made it clear that the Octroi duty will not be replaced immediately by local body tax (LBT) as it needs the amendment to the civic act and its passage in the state legislature. He informed that the civic body has collected well over Rs. 6,500 crore of Octroi duty in 2013-14.