Mumbai, March 28 (IANS) The Mumbai Metropolitan Region Development Authority (MMRDA) headed by Maharashtra Deputy Chief Minister Eknath Shinde on Friday presented a budget of Rs 40,187.41 crore for 2025-26 with an objective to further accelerate the transformation of Mumbai metropolis through the implementation of a range of infrastructure projects.
“The Mumbai Metropolitan Region (MMR) is the backbone of Maharashtra’s economic development. This Budget marks a crucial step toward achieving the vision of a trillion-dollar economy,” said Chief Minister Devendra Fadnavis.
On the other hand, Shinde said: “To provide more and world-class services to the citizens of Mumbai Metropolitan Region, the budget has earmarked Rs 35,151.14 crore, or about 87 per cent of the total outlay, for infrastructure projects. This provision has been made for ambitious projects such as expansion of metro lines, new tunnels, sea routes, water resource development and urban infrastructure. This Budget Estimate expects a revenue of Rs. 36,938.69 crore for 2025-26.”
He added that the Budget will help achieve increase the Mumbai Metropolitan Region’s GDP to $300 billion by 2030 from the present level of $140 billion.
During the World Economic Forum held in Davos, Maharashtra signed 54 MoUs worth a total of Rs 15.70 lakh crore of investments, out of which MMRDA alone signed 11 MoUs worth Rs 3.50 lakh crore.
“These agreements have been executed under the leadership of MMRDA and reflect the global confidence in Maharashtra for investment. This budgetary provision is a significant step towards a trillion dollar economy,” said Shinde.
“From new metro lines to water resource projects, this is a budget that achieves inclusive progress in all areas. With the plans of MMRDA, Mumbai will emerge as a global financial hub, the Budget 2025-26 presented by MMRDA is a visionary, comprehensive and multi-faceted document that achieves the development of the Mumbai Metropolitan Region,” he remarked.
MMRDA has earmarked more than Rs 35,000 crore is for projects like Metro line expansion, subways, water resource development, new business hubs. “The budget will be a milestone in the journey of the metropolitan region, including Mumbai, to become a global city,” he commented. He claimed that the budget will promote integrated, balanced and rapid development in the Mumbai Metropolitan Region, reducing travel time and distance and providing relief from traffic congestion.
Some of the key projects include Thane to Borivali (Sanjay Gandhi National Park) 4-lane subway – Rs 2,684.00 crore, Construction of an underpass for traffic communication from Orange Gate, Eastern Freeway to Marine Drive to the seafront in Mumbai city – Rs 1,813.40 crore, Uttan to Virar Coastal Project – Rs 2,000.00 crore, among others.
–IANS
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