The MMRDA is planning to offset this deficit by generating a revenue largely through the sale of land, loans raised from international financial Institute, sub-debts from state government for Metro, income from development charges, TDR etc. (File) THE MUMBAI Metropolitan Regional Development Authority (MMRDA) on Monday approved an outlay of Rs 18,404.63 crore in the budget estimates for the financial year 2022-23. Nearly a third of the budget, Rs 6,250 crore, has been earmarked for Metro projects in the MMR.
The MMRDA has allotted Rs 3,270 crore for the under-construction Mumbai Trans Harbour Link, Rs 600 for the Worli Sewri Connector project and Rs 380 crore for concretisation of Eastern and Western Express Highway. It has earmarked Rs 955 crore for the regional water development resources including Surya Water project.
The budget was presented by the MMRDA Commissioner S V R Srinivas at the 152nd meeting of the authority held under the chairmanship of Eknath Shinde, Minister,Urban Development.
Srinivas said, “12 kilometres of underground Metro line-11 between Wadala-CSMT, extension of Eastern Freeway between Thane and Ghatkopar, concretisation of EEH and WEH and Nariman Point-Cuffe Parade connector in South Mumbai are some of the projects on which work is likely to begin early this year.”
The budget has been presented with a deficit of Rs 7,680 crore. The MMRDA is planning to offset this deficit by generating a revenue largely through the sale of land, loans raised from international financial Institute, sub-debts from state government for Metro, income from development charges, TDR etc.
The budget has provided Rs 2,111.30 crore for projects such as construction of bridge from Nariman Point to Colaba/ Cuffe Parade, work on the Metro Line 10,11,12 (Kalyan-Taloja), and extension of Eastern Freeway from Ghatkopar to Thane. “We are adopting resource mobilisation strategy to address the financial deficit issue,” he said.
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