In its 152nd authority meeting held at its offices in Bandra Complex on Monday, the Mumbai Metropolitan Region Development Authority (MMRDA) presented a budget of Rs 18,404 crore for the financial year 2022-23. (BKC). The revised budget estimate for the financial year 2021-22 was also presented and accepted at this meeting, with total income of Rs. 8672 crore and estimated expenditure of Rs. 14588.02 crores.
The entire planned investment on various projects in the Financial Year 2022-23 budget is Rs. 18404.63 crores.
“This budget has primarily focused the implementation of Public Transportation and Vital Infrastructural Projects for which Rs 2111.30 crore has been budgeted,” MMRDA Metropolitan Commissioner SVR Srinivas said.
Furthermore, the budget for fiscal year 2022-23 contains a deficit of Rs 7,680 crore. The anticipated expenditure is Rs 18,404 crore, compared to a revenue forecast of Rs 10,724 crore. This shortfall, according to Srinivas, will be compensated by income generated by land sales, loans from international financial institutions, sub-debts from the State Government for Metro, income from development charges, and Transfer of Development Rights (TDR), among other things.
Several new projects will be undertaken, including the construction of a bridge from Nariman Point to Colabal Cuffe Parade, Metro Lines 10,11,12, Eastern Freeway Extension to Thane, Thane Coastal Road, Elevated Road from Anand Nagar to Kharegaon in Thane City, Kalyan Ring Road, Kopri-Patni Road, bride on Gorai Creek, Thane-Borivali Tunnel Link Road, and so on. The MMRDA commissioner stated that the contracting process for these Metro circuits should be completed in six months. While the Metro 11 will be connected to the Metro 4, the Metro 4 will not (Thane-Ghatkopar-Wadala).
In addition, a Detailed Project Report (DPR) for the development of the Eastern Freeway to Thane is in the works. In addition, a DPR for the construction of a sea-bridge between Cuffe Parade and Nariman Point has been created, and MMRDA will announce tenders.
The balanced allocation of money, according to the MMRDA, is primarily for significant Metro corridors and ambitious projects like the Mumbai Trans Harbour Link (MTHL) and other current projects. In reality, the Authority has approved the connecting road between the MTHL and the Mumbai-Pune Expressway in Raigad District. In Chirle Village, clearance is also obtained for interchange and service roads.