Mumbai: The Mumbai Metropolitan Region Development Authority (MMRDA) in its authority meeting approved the fiscal year 2024-25 budget estimated at Rs 39,453.04 crore with expenditure estimated to be Rs 46,921.29 crore. The estimated deficit is Rs 7,468.25 crore on Tuesday.
As per the MMRDA, Rs 41,955.34 crore is allocated for the infrastructure projects. Meanwhile, MMRDA also received approval for its revised budget of the preceding year 2023-24.
The financial budget for 2024-25 is planned to fund infrastructure projects and other developmental directives, including the construction of new Metro Lines dedicated to the strategic expansion of the Metro network, Thane-Borivali Twin Tube Tunnel Road, the Underground Tunnel Road from Orange Gate to Marine Drive, Versova–Virar Sea Link, Thane Coastal Road, Growth Centres, Ramabai Ambedkar Nagar Slum Redevelopment, etc.
Thus, the timely approval from the Authority allows MMRDA’s progressive plans for infrastructure projects in and around the Mumbai Metropolitan Region to continue at a steady pace without any hindrance.
The Maharashtra government has facilitated the approval for raising loans to Rs 60,000 crore, while the proposal for raising an additional loan of Rs 30,000 crore is also received by the government.
Moreover, the government has guaranteed a loan of Rs 12,000 crore in the first tranche, while the proposal for the guarantee of Rs 12,000 crore in the second tranche is submitted for approval.
Furthermore, the proposal for a loan of Rs 50,301 crore has been approved by Power Finance Corporation Limited, as per the MMRDA.
Comments are closed.