BMC estimates Rs 15.78-cr surplus for 2013-14

The Brihanmumbai Municipal Corporation (BMC) commissioner, Sitaram Kunte, today presented the civic body’s budget for the next financial year, estimating a surplus of Rs 15.78 crore.

The richest civic body in the country is expected to be surplus in its revenues as earnings are set to rise following amendments to the Development Control Regulations and Maharashtra Regional Town Planning (MRTP) Act.

The commissioner said the total size of the budget was Rs 27,579 crore against the current financial year’s Rs 26,581 crore. The estimated net expenditure would be Rs 27,493 crore, showing a surplus of Rs 15.78 crore. He further said various amendments in development control regulations (DCR) and the MRTP Act made by the state government had resulted in a sizable increase in the corporation’s revenue.

The new sources of premium against the fungible floor space index (FSI) has fetched Rs 943 crore till January 24 this year. This is expected to cross Rs 1,150 crore by the end of the current financial year.

The corporation has also generated revenue from the new modification introduced in the public parking lot scheme.