25 February,2025 04:59 PM IST | Mumbai | mid-day online correspondent
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The Navi Mumbai Municipal Corporation (NMMC) on Tuesday approved NMMC budget 2025 of Rs 5709.95 crore for the financial year 2025-26 which proposed to boost revenue by incorporating properties outside the tax net while strengthening infrastructure, reported the PTI.
As expected, no new taxes were imposed in the NMMC Budget 2025 as civic elections may be held in the coming months.
The maximum allocation of Rs 5,684.95 crore is made for expenditure, leaving a surplus of Rs 25 crore.
NMMC commissioner and administrator Kailas Shinde said the budget focuses on improving the livability index of Navi Mumbai while ensuring comprehensive development across key sectors of education, health, civic facilities, environment, and infrastructure for the disabled, as per PTI.
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Addressing reporters, Kailas Shinde said the decision to not impose new taxes is not influenced by the upcoming civic elections but is aimed at enhancing public welfare.
Kailas Shinde underscored the civic body's strategy to boost revenue, particularly by incorporating properties outside the tax net.
He said that values of properties in areas like Palm Beach Road have surged from Rs 2.5 lakh per square foot to Rs 5 lakh, largely due to the upcoming international airport.
"This economic growth is expected to attract high-end infrastructure, including luxury hotels, further enhancing municipal revenue," he added.
Kailas Shinde said the budget is designed with the vision of transforming Navi Mumbai into a major development centre.
"The city will witness significant industrial and commercial expansion due to the upcoming international airport. It is our responsibility to create the necessary infrastructure to support this growth," he added, according to the PTI.
He said infrastructure development, including financial reform to ensure sustainable growth, employment generation through industrial and commercial expansion, and quality education by enhancing infrastructure and standards are the key areas of the Budget.
It emphasises easy transportation with improved public transit and road connectivity, strengthening healthcare through upgraded medical services, and sustainable water management for efficient and eco-friendly distribution.
Kailas Shinde said the NMMC aims to make Navi Mumbai a model city that balances growth with environmental and social well-being, the news agency reported.
(with PTI inputs)
