With ?70,000 crore in BMC’s reserves, Mumbai continues to battle bad roads, flooded drains
The BMC earned close to Rs10,000 crore in interests and other revenues last year.
Despite losing money after octroi, its biggest source of income, was scrapped owing to rollout of the Goods and Services Tax (GST), the BMC’s revenue has grown. The BMC’s massive fixed deposits parked in more than 30 nationalised banks earn it Rs2,000 crore to Rs4,000 crore in interests annually.
20 Jan, 2018