Mumbai: BMC FDs Fall ₹13,785 Crore In 5 Years; Congress Seeks White Paper On ₹2.44 Lakh-Crore Commitments
Mumbai, October 15, 2026: The Brihanmumbai Municipal Corporation’s (BMC) financial management must come under scrutiny following a decline of ₹13,785 crore in its fixed deposits (FDs) over five years, even as the civic body faces financial commitments linked to infrastructure projects worth approximately ₹2.44 lakh crore, said Ashraf Azmi, Congress group leader in the BMC. The Congress has…
Mumbai, October 15, 2026 - The head of the Congress group in the Brihanmumbai Municipal Corporation (BMC) has accused the civic body of poor financial management following a decline in fixed deposits (FDs) worth ₹13,785 crore over the past five years. Ashraf Azmi, the Congress leader, called for a comprehensive white paper detailing the municipality's financial position and urged Mayor Ritu Tawde to convene a special meeting to address the issue.
The Congress has questioned the long-term sustainability of the BMC's spending plans, particularly as the corporation is projected to pay contractors around ₹8,000 crore in the current financial year, with annual payments potentially reaching ₹28,000 crore over the next seven to eight years. These payments are earmarked for various infrastructure projects, including the Versova-Dahisar Coastal Road, Goregaon-Mulund Link Road (GMLR), and several sewage treatment plants.
The decline in FDs has raised concerns over the utilization of civic funds and the administration's ability to meet its financial commitments without compromising the BMC's financial stability or burdening future generations.
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