Mumbai, Feb 2 (IANS): The BrihanMumbai Municipal Corporation (BMC) here on Friday presented a Rs 59,954.75 crore budget for 2024-2025, its highest ever, and 10.50 per cent higher than the previous fiscal's Rs 54,256.07 crore, with a 'green component' but no new major infrastructure project was proposed.

In the budget, BMC Commissioner I.S. Chahal said there will be a capital expenditure of Rs 31,774.59 crore and a revenue expenditure of Rs 28,121.94 crore.

The actual revenue income for 2022-2023 was Rs 28,693.30, the budget estimates of revenue income for 2023-2024 was Rs 33,290.03 crore, which was revised to Rs 32,897.68 crore -- a fall of Rs 392.35 crore.

The actual income received till December 31, 2023 was Rs 19,231.55 crore, the estimated revenue income for the current year is proposed at Rs 35,749.03 crore -- which is Rs 2,459 crore higher than the budget estimates of last year.

The country's biggest and richest civic body's major sources of revenue income estimates are the current year (2024-2025) are -- Grant-in-Aid for Octroi compensation Rs 13,331.63 crore, Property Tax Rs 4,950 crore, DP Department income Rs 5,800 crore, Interest on Investments Rs 2,206.30 crore and Water & Sewerage Charges Rs 1,923.19 crore.

The state government owes the BMC an amount of Rs 8,936.64 crore till December 2023 under various heads, reimbursement of Rs 2,037.42 crore and Rs 2,119.26 crore for expenditure during the Covid-19 pandemic from the State Disaster Response Fund.